The European Commission this week released a set of frequently asked questions on the sanctions screening obligations of payment service providers under the EU’s instant payment regulation, a new set of rules governing instant payment services in euros adopted earlier this year. The FAQs touch on those obligations, beginning on page 62, outlining how payment service providers should be screening against sanctions lists, what they must do if they detect a payment that may violate sanctions, and more.
The U.S. designated two Mexican members of Cartel de Jalisco Nueva Generacion this week, along with their companies, for helping to move fentanyl and other illegal drugs into the U.S. The designations target Juan Carlos Banuelos Ramirez, a CJNG “cell leader” who moves drugs for the group, launders money, procures precursor chemicals and oversees Mexican production labs; and Gerardo Rivera Ibarra, another cartel leader who works to send fentanyl, methamphetamine and cocaine to the U.S. OFAC sanctioned Inmobiliaria Universal Deja Vu S.A. de C.V. for being owned by Banuelos, and Fornely Lab S.A. de C.V. for being owned by Rivera.
The Office of Foreign Assets Control this week sanctioned three people for being “key financiers and trusted operatives” of the Islamic State group’s activities in Africa. The designations target South Africa- and Zambia-based Abubakar Swalleh, South Africa-based Zayd Gangat and Democratic Republic of the Congo-based Hamidah Nabagala. OFAC said they help the group move funds and carry out terrorist attacks in the region.
The Office of Foreign Assets Control this week published new reporting requirements for banks and other financial institutions under a law that allows the U.S. to use certain frozen Russian assets to help support and rebuild Ukraine.
The Office of Foreign Assets Control this week sanctioned a network of people and companies in China involved in procuring items for North Korea’s weapons programs, which the country is using to provide missiles to Russia’s military. OFAC said North Korea is relying on this Chinese network to buy foreign-sourced materials and parts that it can’t produce domestically. The companies “consolidate and repackage items for onward shipment” to North Korea, the agency said, and hide the “true end-user” from the manufacturers and distributors of those items.
The Bureau of Industry and Security this week issued a correction to a recent interim final rule designed to remove export control barriers for standards-setting activities (see 2407170025). BIS said the rule “inadvertently revised language related to recent changes to the Entity List,” and the agency is correcting those “inadvertent revisions.” The correction takes effect July 25.
The Bureau of Industry and Security is expanding its export controls to make more items subject to license requirements under its Iran foreign direct product rule, increasing its Iran-related restrictions under the Export Administration Regulations. The final rule, which was released July 24 but took effect July 23, implements certain provisions in the wide-ranging national security bill President Joe Biden signed into law in April (see 2404240043).
Minsu Fang, a Chinese national, was indicted for allegedly conspiring to import what the U.S. government believes to be "the largest amount of fentanyl precursors found in the Southern District of Texas and one of the largest in the country," DOJ announced July 22.
The Biden administration should seek to remove trade barriers that are making it difficult for American producers of liquor and liquefied natural gas (LNG) to export their products to India, a member of Congress said July 23.
The House of Representatives approved by voice vote on July 22 a bill that would create an interagency working group to conduct research and develop legislative and regulatory proposals to counter sanctions evasion, terrorism financing and money laundering on digital platforms.