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Home Fraud

Economic Sanctions and AML Developments


Paul Weiss Economic_Sanctions_and_Anti_Money_Laundering_Developments_2022_Year_in_Review_c

Sanctions start high and stay high


2022 Year in Review

Economic Sanctions and AML Developments

What’s in this report from Paul, Weiss:

A central theme of the global financial landscape in 2022 was the U.S. government’s sanctions, AML and export control authorities’ forceful response to Russia’s invasion of Ukraine. Following a “start high/stay high” strategy, the Biden Administration imposed sanctions targeting prominent Russian financial institutions, state-owned entities, government agencies and officials and oligarchs with unprecedented speed, breadth and coordination with allied countries (including the United Kingdom, members of the European Union, Japan, Canada and Australia).

A team from Paul, Weiss dissects these moves, as well as other policies by the Biden Administration. Here are some highlights of their analysis:



  • Russia, “a quasi-comprehensively sanctioned jurisdiction.” Leading the report and dominating a year of broad-based national and international regulatory action is the U.S. government’s deployment of far-reaching sanctions that “have increasingly made Russia effectively a quasi-comprehensively sanctioned jurisdiction.
  • A wide sweep of rulemaking and sixfold increase in penalties and seizures. The report also surveys sanctions and export controls against China; placement of the Nicaraguan state-owned gold company ENIMINAS on the SDN list; some loosening of sanctions against Venezuela; and the placement of two cryptocurrency mixers on the SDN list. It overviews multi-agency actions that resulted in federal and state authorities imposing nearly $4 billion in penalties and asset seizures for AML/sanctions violations – nearly a sixfold increase over 2021.

Tags: AMLDownloadSanctions
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