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May Sanctions News

Continuing our monthly Sanctions news series, we bring you the significant developments in May. Our service empowers Compliance Officers and Chief Compliance Officers to keep up with Sanctions landscape changes at designation level and, most importantly, to understand the intentions and objectives behind such measures. Keeping up with the latest developments can bring long-term benefits to an organization.

In May, there were noteworthy events globally that impacted sanctions compliance. We summarize all the relevant events and provide links to primary sources for more in-depth research, so you can stay ahead and mitigate risks to your business operations.

In May, we have seen the following events:

12 May 2023

The President of Ukraine published Decree No. 275/2023

On the decision of the National Security and Defense Council of Ukraine dated 12 May 2023 "On the application and introduction of changes to personal special economic and other restrictive measures (sanctions)" (source)

15 May 2023

The U.S. Department of State imposed visa restrictions (a type of sanction) under Section 212(a)(3)C) of the Immigration and Nationality Act on specific individuals in Nigeria. (source)

The EU Council extended the validity of its Cyber Sanctions regime until 18 May 2025. (source)

16 May 2023

Treasury Sanctions Russian Ransomware Actor Complicit in Attacks on Police and U.S. Critical Infrastructure. (source)

19 May 2023

Canadian Prime Minister announces new sanctions in support of Ukraine and funding for nuclear safety and security. (source)

30 May 2023

The Minister of the Interior and Administration of Poland decided to include 365 Belarusian citizens in the register of foreigners whose residence on the territory of Poland is undesirable. (source)

Canadian Minister of Foreign Affairs, announced sanctions against 7 individuals and 1 entity in Moldova as part of the Special Economic Measures (Moldova) Regulations. (source)

Stay informed and ahead of the curve in the dynamic world of sanctions.

As a Compliance Officer or Chief Compliance Officer, understanding the latest sanction developments is key to mitigating the risk of non-compliance in your organization.

Don't miss out on our monthly update articles, summarizing the most noteworthy events in sanctions with links to primary sources for further research.

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