11 Jan 2021

China brings in new law to fight Trump’s sanctions

China has created new rules that protect many of its companies from “unjustified” US sanctions. Chinese courts have been punishing companies that have complied with the restrictions applied by the United States. The New York Stock Exchange will be removing three Chinese telecommunications firms from an executive order signed by

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05 Jan 2021

Iran denies seized Korean ship and crew are being held as hostages

On Tuesday, Iran denied claims that it was using a South Korean ship and holding its crew as hostages. However, Iranian forces did seize the tanker in the Gulf and pressed Seoul to release $7 billion in frozen funds. The ship, MT Hankuk Chemi, was near the Strait of Hormuz

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10 Dec 2020

China Responds in Latest Sanctions Tit-for-Tat With U.S. Over Hong Kong

On Monday of this week, the US ramped up sanctions on China, placing 14 senior Chinese officials on sanctions blacklists. However, China has responded by revoking visa exemptions for US diplomatic passport holders in both Hong Kong and Macau. China also stated that it planned to impose other sanctions against

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08 Dec 2020

Covert Chinese Trade With North Korea Moves Into the Open

According to US officials, China is skirting around sanctions placed on North Korea and is no longer trying to hide smuggling activity. The Trump administration believes the move is representative of China trying to help Pyongyang endure the US’s pressure campaign. According to US officials, North Korean vessels have delivered

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26 Oct 2020

China to Sanction U.S. Weapons Makers Over Taiwan Sales

According to a statement released by Chinese Foreign Ministry spokesman Zhao Lijian, three American defense contractors will be sanctioned due to their role in proposed arms sales to Taiwan. The move is an attempt to retaliate against the US’s efforts to increase Taiwan’s security, a region that Beijing claims as

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13 Oct 2020

EU to Sanction Russia Over Poisoning and Belarus Leader Over Crackdown

On Monday, the European Union agreed to impose sanctions on Russian officials after the poisoning of opposition leader Alexei Navalny with a nerve agent known as Novichok. The sanctions will target entities that were allegedly involved in the poisoning, however, officials stated that the move will likely not undercut Europe’s

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02 Oct 2020

EU Leaders Agree to Adopt Sanctions on Belarus Officials

Early this morning, the European Union reached a deal to advance sanctions on Belarus Officials, excluding current President Alexander Lukashenko. The sanctions will target roughly 40 people allegedly responsible for violently repressing peaceful protests and conducting election fraud, according to the EU. President Lukashenko remains the possible target of a

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02 Oct 2020

US Treasury Warns of Sanctions Violations for Paying Ransomware Attackers

A new government advisory warns against paying ransomware demands to cybercriminals as it may be illegal under US Treasury sanctions against certain threat actor groups. The advisory came as a surprise to cybersecurity professionals and will likely cause complications in the future for businesses hit by ransomware attacks. The Treasury’s

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01 Oct 2020

Your Ransomware Payments Could Violate OFAC Sanctions

The U.S. Department of Treasure released an advisory today highlighting that ransomware payments could violate their Office of Foreign Assets Control (OFAC) sanction controls. This advisory drastically changes the dynamic for how companies are managing ransomware response including the payment of ransoms directly or through third party negotiators.

This is an advisory that every CISO, corporate executive, and board of directors member needs to read and understand to prevent criminal liability.

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22 Sep 2020

EU Hardens Stance Toward Belarus Leader Amid Talks on Sanctions

Among members of the EU, opposition to Belarus leader Alexander Lukashenko is growing as the organization looks to toughen its response to the country’s current political crisis that ensued after the recent presidential elections in which Lukashenko, the incumbent, won. The EU is allegedly considering imposing a travel ban and

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