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

The US House passed the Hamas International Financing Prevention Act, now in the Senate. If approved, it empowers the US to sanction foreign supporters of Hamas and Palestine Islamic Jihad, enhancing existing measures against designated terrorist groups.

OFSI has modified the definition of “arbitration costs” in GL, amending General Licence INT/2022/1552576 by removing Annex 1 Schedule of Arbitration Costs and updating the definition to align with the LCIA’s website Schedule of Costs for arbitration.

The Cyprus government is intensifying sanctions controls and conducting a criminal investigation into potential sanctions breaches following reports of Russian businessmen transferring assets in violation of EU sanctions with alleged involvement of Cypriot entities.

The United Nations General Assembly, for the 31st time, urged the United States to lift its long-standing trade embargo on Cuba amid the country’s severe economic crisis, garnering support from 187 countries, while the United States and Israel opposed, and Ukraine abstained.