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ARTICLE · 23 MAY 2023

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Sanctions Weekly Update – Ukraine/Russia Conflict – May 8, 2023

Mayer Brown
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On May 5, Bloomberg reported that the Justice Department is investigating whether Binance Holdings Ltd., the world's largest cryptocurrency exchange was used illegally by Russians to circumvent U.S.

GlobalInternational Law
Tamer A. Soliman
Tamer A. Soliman
Jason Hungerford
Jason Hungerford
Paulette Vander Schueren
Paulette Vander Schueren
Gretel Echarte Morales
Gretel Echarte Morales
Anjani D. Nadadur
Anjani D. Nadadur
Tony Martin-Brieu
Tony Martin-Brieu
Paul Whitfield-Jones
Paul Whitfield-Jones
James Ford
James Ford
Ivan Baranenko
Ivan Baranenko
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Week of May 8, 2023

I. US SANCTIONS

  • Justice Department Investigating Binance for Sanctions Violations: On May 5, Bloomberg reported that the Justice Department is investigating whether Binance Holdings Ltd., the world's largest cryptocurrency exchange, was used illegally by Russians to circumvent U.S. sanctions, according to people familiar with the matter. Sources say that the Justice Department's national security division is leading the probe, which is moving on a parallel track with an existing inquiry by the criminal division. Read more>>
  • U.S. Attorney General Authorizes Transfer of Assets Seized from Russian Oligarch to Ukraine: On May 10, U.S. Attorney General Merrick Garland authorized the first ever transfer of assets seized from sanctioned Russian oligarch to Ukraine for war reconstruction purposes, according to reports. The said Russian oligarch Konstantin Malofeyev was indicted by the U.S. last year for breaching sanctions imposed on him in

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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