Updated Guidance Material “Indicators of Sectoral and Targeted Financial Sanction Evasion” Published

The FIU has published the guidance material “Indicators of Sectoral and Targeted Financial Sanction Evasion.” This methodological material is an updated version of the guidelines “Indicators of Circumvention of Sanctions Against Russia” issued in 2022. Since the Russian war of aggression against Ukraine began on February 24, 2022, the EU has imposed massive and unprecedented sanctions against Russia, adopting 14 rounds of sanctions at the time of this publication. Individuals continue to seek new ways to violate or circumvent these sanctions. This supplementary material contains up-to-date information on the sanctions framework, including extended sanctions against Belarus, newly identified typologies for the circumvention of sanctions, and trends in the flow of goods.

The methodological material has been developed in cooperation with the The Prosecution Office of the Republic of Latvia, the State Security Service (VDD), Latvijas Banka, the SRS Customs Administration, Customs Police Department, and seven Latvian credit institutions: Swedbank AS, Luminor Bank AS Latvian branch, AS “SEB banka,” AS “Citadele banka,” Bluor Bank AS, Rietumu Bank AS, and Signet Bank AS.

Individuals are encouraged to familiarize themselves with the updated material and use it for risk-based compliance with sanctions.

Indicators of Sectoral and Targeted Financial Sanction Evasion