In the latest edition of our Sanctions Watch weekly digest, we present significant updates on sanction watchlists and regulatory developments.

The United States Treasury Department granted temporary relief from sanctions on Venezuela’s banking, aviation, gold, and oil sectors due to evolving circumstances, marking a shift in policy after years of coercive measures and regime-change efforts, though with the caveat of possible unilateral re-imposition.

The Office of Financial Sanctions Implementation (OFSI) modified General Licence INT/2022/1839676 regarding Russian Travel, specifying that it only allows buying tickets for passenger rail or air journeys within Russia from designated persons or their subsidiaries mentioned in the license.

The Sanctions Monitoring Board in Malta has released guidelines in response to the Gaza conflict, delineating EU actions against entities such as Hamas, offering secure donation channels, and specifying the consequences for breaching sanctions, including potential imprisonment and fines.

The United Kingdom’s National Crime Agency (NCA) issued a red alert to financial institutions, urging awareness and preventive measures against the use of gold for sanctions evasion, providing details on sanctions, circumvention techniques, indicators, and industry guidance.