MENA FCCG Building Capacity – RUSI Webinar on Russia Sanctions
As part of MENA FCCG’s outreach to enhance financial crime literacy across the MENA region and beyond, Royal United Services Institute (RUSI), the world’s oldest and the UK’s leading defense and security think tank, delivered a two-hour webinar on Monday, July 8th on Russia sanctions. Webinar was attended by key stakeholders from the public and private sector including central banks, board members, compliance professionals, consultants, and trade finance experts.
Specifically, RUSI experts updated participants on the current sanctions regimes affecting the Russian Federation, as well as relevant – publicly reported – sanctions evasion cases involving the private sector to which participants should be alert in case they face being inadvertently involved in similar cases themselves. They also shed light on key advisories on Russia’s abuse of the global financial and trade systems published by the US, EU and UK on key risks for financial institutions. Key topics relevant to the MENA region discussed included trade in gold, correspondent banking and the abuse of corporate structures and enablers of sanctions evasion.
RUSI experts also discussed typical responses to Russia sanctions from the private sector and best practices from around the world, including examples of enhanced KYC and due diligence processes in the context of the MENA region.
To access the RUSI presentation, go to Webinar Tab.
