US targets China, Iran-based firms in fresh Iran sanctions
On April 29, 2025, the United States levied sanctions on a network based in Iran and China, charging it of procuring ballistic missile propellant ingredients for Iran’s Islamic Revolutionary Guard Corps (IRGC). This move is part of the Trump administration’s broader strategy to magnify pressure on Tehran and curb its missile program.
CBUAE Imposes Administrative and Financial Sanctions on Five Insurance Brokers Operating in the UAE
In a landmark regulatory move, the Central Bank of the UAE (CBUAE) has levied both administrative and financial sanctions on five insurance brokers operating within the country. This action highlights the CBUAE’s commitment to supporting the integrity and transparency of the UAE’s financial and insurance sectors. The sanctions, which include license cancellations and substantial fines, are a response to various violations of regulatory compliance.
Indian-origin billionaire businessman ‘Abu Sabah’ jailed for money laundering in Dubai
Balvinder Singh Sahni, popularly known as ‘Abu Sabah’ a prominent Indian-origin billionaire based in Dubai, has been sentenced to five years in prison by the Dubai Criminal Court for his involvement in a significant money laundering operation. The case had begun in early 2024 when the conviction and sentencing was announced; the final order took place in 2025. Following his prison term, Sahni will be deported from the United Arab Emirates.
UK Targets Russia’s Shadow Fleet with Largest-Ever Sanctions Package
In a strategic move to accentuate pressure on Russia between ongoing geopolitical tensions, the United Kingdom has announced its largest-ever sanctions package, focusing on the so-called shadow fleet. This furtive network of oil tankers has been instrumental in circumventing international sanctions, enabling Russia to continue its oil exports and generate income despite global restrictions.The UK’s strategic sanctions aim to disrupt this illegal trade, thereby weakening Russia’s economic base and supporting Ukraine’s defense efforts.
Julius Baer Fined $5 Million for Money Laundering Control Failures
Swiss private bank Julius Baer has been ordered by Switzerland’s financial controller, FINMA, to pay over 4 million Swiss francs (approximately $5 million) due to grave anti-money laundering (AML) and compliance infringements. This enforcement action, dated November 2024 but publicly revealed in May 2025, pertains to the bank’s operations between 2009 and 2019. The decision highlights the ongoing scrutiny of financial institutions’ adherence to AML regulations and the repercussions of non-compliance.
EU Agrees to Lift Economic Sanctions on Syria
In a momentous decision, the European Union (EU) has agreed to lift major economic sanctions on Syria, signaling a crucial shift in international relations and offering a prospective pathway for the war-torn nation’s rejuvenation. This step follows the ousting of President Bashar al-Assad and the rise of a new government under President Ahmed al-Sharaa. EU foreign policy chief Kaja Kallas accentuated that while this decision aspires to support Syria’s reconstruction, it remains incidental upon the new government’s adherence to democratic reforms and human rights safeguards.
