With the proliferation of OFAC designations of Russian businesspeople, trying to predict whether or not someone will be designated as a Specially Designated National (SDN) has become an important part of third party due diligence on Russian business partners. … Continue Reading
A British critic of Russian president Vladimir Putin was detained by Spanish police Wednesday on an international arrest warrant that Russia requested through Interpol.
Financier Bill Browder tweeted that police in Madrid released him after Interpol’s general secretary in Lyon, France, instructed Spanish police not to honor Russia’s arrest request. … Continue Reading
Russian President Putin recently submitted a new anti-corruption bill to the Russian parliament.
The proposal has two significant aspects.
First, it would amend Article 19.28 of the Russian Code of Administrative Violations (which was previously amended in 2011 to impose liability on corporations for bribery, including domestic and foreign, public and private) to provide that companies can avoid liability in domestic bribery cases if
(i) they assist in the discovery or investigation of the bribe or
(ii) the bribe has been extorted. … Continue Reading
A Transparency International-Russia report published in January assessed the efficacy of the anti-corruption programs of over 200 Russian companies, who together generate more than 70 percent of Russia’s national income.
While the report mainly calls for the majority of the companies named to implement remedial measures, it is worth noting and commending the highest-scoring companies, who provide exemplary models for their counterparts in the anti-corruption space.… Continue Reading
The Trump administration Thursday sanctioned five entities and 19 individuals for meddling in the 2016 U.S. presidential elections and for cyberattacks.
Among the entities sanctioned are Russian intelligence agencies, including the Federal Security Service, blamed for the 2014 hacking of Yahoo.… Continue Reading
A Maryland company that bribed a Russian official to award uranium transportation contracts agreed Tuesday to pay a $2 million criminal fine to resolve FCPA charges.
Transport Logistics International Inc. (TLI) was charged with conspiracy to violate the FCPA’s anti-bribery provisions.… Continue Reading
Transparency International – Russia graded the 200 biggest Russian companies for the amount of information they disclose about themselves. Most of them flunked.
On a scale of zero to ten for transparency, the companies scored an average of 2.6.… Continue Reading
The Office of the Israel’s Tax and Economic Prosecutor announced Monday that it has reached a Conditional Agreement with Teva Pharmaceuticals Industries Ltd. with respect to the bribery issues Teva resolved with U.S.… Continue Reading
A former co-president of a Maryland-based company that transports nuclear materials to customers in the United States and abroad was charged with bribing an official connected to Russia’s State Atomic Energy Corporation.… Continue Reading
The Treasury Department’s Office of Foreign Assets Control added four Russians and a Chechen to its list of those sanctioned under the Magnitsky Act for alleged human rights abuses.
The most prominent name on Wednesday’s list was the head of the Russian republic of Chechnya, Ramzan Kadyrov.… Continue Reading
The U.S. Treasury Department’s Office of Foreign Assets Control Tuesday put more entities and individuals from China, Russia, Singapore and Namibia on the North Korea sanctions list.
OFAC said the blocked companies and people bought coal, minerals or oil from North Korea or supported its weapons programs.… Continue Reading
Bhutan — the tiny Himalayan kingdom nestled between China and India — now writes an anti-corruption story unlike any I have seen, and in the best of ways.
Deliberately isolated from the outside world and its geopolitical machinations, Bhutan has declined to establish diplomatic relations with the United States, China, and Russia alike.… Continue Reading