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Last week's major developments in sanctions - Dec. 7 to Dec. 11, 2020.

Updated: Jan 10, 2021

Monday, December 7th:

- EU adopted its new Human Rights regime. It is similar to the Global Magnitsky program of the United States. So far, no one is listed under this EU program. (Link)

- On the same day, the United States designated 14 individuals under its recently created Hong Kong related program. The 14 listed persons were all members of the National People’s Congress Standing Committee. (Link) Tuesday, December 8th: - The EU Official Journal published the European Commission amendment of the entities targeted under its Iraq regime. (Link) It followed the December first decision of the 1518 Sanctions Committee of the United Nations Security Council to remove one individual and eleven entities from the list of individuals and entities to whom the freezing of funds and economic resources should apply. (Link)

- Later on Tuesday, the United States designated Iran's envoy in Yemen (or as Iran calls it, Iran's ambassador to Yemen), an individual who was helping IRGC recruiting as well as a University in the conservative city of Qom. All these targets have been (among other authorities) designated under the Counter Terrorism program [SDGT] and therefore significant transactions with them, if conducted knowingly, could lead to sanctions. (Link) - Also on December 8, the United States designated 6 persons and 4 vessels for their involvement in transferring North Korean coal. (Link)

Wednesday, December 9th:

- The United States Treasury added 3 individuals and 3 entities across several countries in Africa and Asia under Global Magnitsky authority. These targets were designated on the International Anti-Corruption Day, due to their alleged corrupt practices in Liberia, Kyrgyzstan, and southeast Asia. (Link)

Thursday, December 10th:

- France Official Journal published a decree of the French Ministry of Economy and Finance which expanded the controls on digital assets. Even though this action is aimed at straightening the AML and CTF framework applicable to digital assets, it has also some effects on implementation of sanctions as there are several sanctioned individuals in France for being involved terrorism financing. (Link)

- In the UK, OFSI listed 10 individuals and one entity under its Global Human Rights sanctions . (Link)

- In the United States, to commemorate the International Human Rights Day, the U.S. Treasury added several individuals and entities to the SDN list using the Global Magnitsky authority. The targets were in Haiti, Russia, Yemen, and Germany. Interestingly, one of the designated individuals, Joseph Pierre Richard DUPLAN, is a U.S. citizen. (Link)

Friday, December 11th:

- EU delisted one person who used to be listed under Democratic Republic of Congo regime. It also extended the regime in question for another year. (Link)

- The highly anticipated Treasury report pursuant to section 5(b) of Honk Kong Autonomy Act was published late on Friday. In this report, which made financial institutions breath a sigh of relief for now, stated that "[a]t this time, Treasury has not identified any [foreign financial institution] that has knowingly conducted a significant transaction with a foreign person identified in the Section 5(a) Report submitted on October 14,2020, after the date of the report’s issuance. Treasury indicated that it will monitor continuously and will update the report accordingly. (Link)

- The week ended with designated one on individual pursuant to Counter Terrorism program of the United States. (Link)


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