Introducing our second edition of the Sanctions Watchlist weekly digest, where we aim to provide you with the latest news and valuable insights regarding sanction watchlists and regulatory developments.

In the previous week, the US Treasury Department took action by imposing sanctions on Myanmar’s defense ministry and certain banks that the military regime utilized to procure arms and other goods from foreign sources.

Additionally, Swedbank Latvia has recently reached an agreement to pay $3.375 million, resolving potential civil liability for violations of OFAC sanctions on Crimea.

On a different note, the UK has made changes to its general license for humanitarian assistance in Ukraine. The modification expands the definition of “non-government controlled Ukrainian territory” to encompass Kherson and Zaporizhzhia oblasts.

Furthermore, the European Union has collectively agreed upon its 11th package of sanctions against Russia. This decision highlights the EU’s ongoing efforts to bolster its position against activities that undermine the existing sanctions on Russia.