Search Results for: Russia

The European Association of Sugar Manufacturers (CEFS) have joined with five other European food industry associations to press the European Union (EU) to protect the EU sugar and honey industries against large import flows from Ukraine. Because of Russia’s invasion, Ukraine’s ability to service traditional markets has been impeded – with significant amounts of product entering the EU instead.…

Indonesia’s textile and garment sector, a key pillar of the country’s economy and a major employer, is hoping for more attention and support from the incoming new Indonesian government, as it faces challenges from illegal imports, excessive costs and global instability, industry associations have said.…

Digital textile printing has been growing significantly in popularity and demand within the Indonesian clothing and textile sector, Rizal Tanzil, the secretary-general of the Indonesian Textile Association (API – Asosiasi Pertekstilan Indonesia). Speaking to Digital Textile, he stressed that it offered more flexibility and customisation for a wide range of textile applications, such as clothing, bags, hats and accessories.…

A joint study by the World Bank, the Ukrainian government, the European Union (EU), and the UN has concluded that, as of February 2024, 21% of Ukraine higher education institutions have been damaged or destroyed during the ongoing Russian invasion. For research institutions, the rate rises to 31%.…

The Argentine oils, fats and oilseeds industry is optimistic about the sector’s growth potential and hopes that reforms announced by the new libertarian government will help to achieve much-needed macroeconomic stabilisation and boost exports.
Gustavo Idígoras, president of the Argentine Edible Oil Association and the Center for Cereal Exporters (Cámara de la Industria Aceitera de Argentina y del Centro de Exportadores de Cereales – CIARA/CEC) wants change.…

The scourge of the fentanyl trade and heightened international tensions caused by Russia’s ongoing invasion of Ukraine, Hamas’ attack on Israel and the resulting Israeli invasion of Gaza have shifted the USA’s assessment of its ML, TF and PF risks.

These conclusions have been written into the latest US treasury ‘National Risk Assessments [NRA] on Money Laundering, Terrorist Financing, and Proliferation Financing’, released on Wednesday (Feb 7).…

The USA, the European Union (EU) and the UK have released hundreds of new sanctions against Russians, Russian entities and associates overseas, one day ahead of the second anniversary of their country’s major invasion of Ukraine on February 24.

With the UK ministry of defence in December estimating that 320,000 Russian combatants have been wounded or killed in the invasion, the British government announced 50 new sanctions targeting individuals and businesses.…

The Financial Action Task Force (FATF) has appointed a new president – Elisa de Anda Madrazo, of Mexico, as the global AML body faces the launch of its next and fifth mutual evaluation round (MER) later this year (2024).

Ms de Anda Madrazo, FATF vice president from July 2020 to June 2023, will take over from Singapore’s T.…

As wars and civil wars intensify worldwide, international and national sanctions are being issued thick and fast and are expanding in scope and complexity. Financial institutions are scrambling to keep up, while regulators are clamping down hard on sanctions violators. The outlook is for a broadening of sanctions ahead.…

Balkans countries once part of Yugoslavia, still outside the European Union (EU) face a tough task upgrading their AML/CFT systems to appropriate international and EU standards. The record of three countries – Serbia, North Macedonia and Bosnia & Herzegovina – shows how remaining outside the EU and its AML legislation, places complete political responsibility on their national governments for difficult AML/CFT reforms, which they can be slow to undertake.…