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Restrictive Measures: The ban on the export of banknotes to Russia
The act of exporting euro-denominated banknotes by an individual traveling to Russia, with the purpose of funding medical treatments they wish to undergo there, is not considered an export required for personal use.
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EU sanctions alert: High risk of circumvention – Import of plywood
The Commission issued an EU sanctions alert on the high risk of circumvention. Enhanced due diligence on the origin of imported plywood is strongly recommended. This applies
to first placers on the EU market as well as intermediaries (such as warehouse owners) and end-users.EU sanctions alert: High risk of circumvention – Import of plywood – European Commission
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Public Consultation on Complex Proliferation Financing and Sanctions Evasion Schemes Project
The SMB would like to inform subject persons of the following updates from the Financial Action Task Force (FATF):
In order to fully understand to current Proliferation Financing (PF) risks, the FATF is conducting a study that will describe the methods used to prevent the targeted financial sanctions outlined in Recommendation 7, which is mandated by the FATF Standards, as well as other national and supranational sanctions that are not covered by the FATF Standards. The report will help countries assess and mitigate their PF risks by offering a thorough understanding of typologies in intricate sanctions evasion schemes that are relevant to PF, as well as by identifying enforcement challenges and best practices.
Responses to the questions are to be provided by completing the online form by Friday 21st March, 2025 (COB Paris time)
For further information you may refer to the FATF website.
