Turkish Trade Compliance & Sanctions Network

The Turkish Trade Compliance and Sanctions Network (TTCSN) is a not-for-profit organization dedicated to promoting best practices in trade compliance.

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

OFAC has designated eight Canadian money services businesses for their alleged role in facilitating financial activities linked to the Iranian regime. The action, announced as “Operation Economic Outcast”, targets businesses in British Columbia, Ontario and Quebec.

#TTCSN

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

OFAC has designated an India-based network accused of establishing fraudulent vessel registries and maritime certification services used by ships transporting Iranian petroleum.

#TTCSN #TürkiyeTradeCompliance #SanctionsUpdate #OFAC #IranSanctions #India #TurkishTrade #Herdem

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

On November 4, 2026, OFAC designated FUGO Ground Services Inc. (Fugo Yer Hizmetleri A.Ş., also known as Fugo Aviation), a ground handling company in Beşiktaş, Istanbul.

#TTCSN #TürkiyeTradeCompliance #ExportControl #SanctionsUpdate #USA #FCC #China #Türkiye #TurkishTrade

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

OFAC has reached a $1,529,685 settlement with Extreme Networks, Inc., a North Carolina-based cloud networking solutions provider, over nine exports of networking equipment and related services to Russian defence manufacturer JSC Moskovskiy Mashinostroitelniy Zavod Avangard #TTCSN

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

The District Court of Amsterdam has ordered ING Bank N.V. to maintain its banking relationship with Gazprom International Projects B.V., a Dutch subsidiary of the Russian Gazprom International group, until the company secures an alternative banking relationship.
#TTCSN #Türkiye

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

On 26 October 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) amended several Frequently Asked Questions concerning blocked property, rejected transactions, and related reporting obligations.
#TTCSN #TürkiyeTradeCompliance #SanctionsUpdate

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

EU Commission has issued two statements to the European Parliament addressing U.S. sanctions measures adopted in Oct. 2026, covering the waiver of measures under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 and U.S. sanctions targeting the ICC.

#TTCSN #Türkiye

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

OFAC has designated individuals, companies and vessels linked to networks supporting Iran’s maritime trade and alleged sanctions evasion.

#TTCSN #TürkiyeTradeCompliance #SanctionsUpdate #OFAC #USA #Iran #Russia #Lukoil #MaritimeCompliance #ExportControl #TurkishTrade #Herdem

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

FinCEN has identified approximately $270 million in suspicious financial activity potentially connected to fraud involving federal student aid programmes. Following its review, FinCEN referred the findings to federal investigators for further examination.

#TTCSN #TürkiyeTrade

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

U.S. President has issued an executive order dated October 16, 2026, invoking national-interest authority to waive major sanctions, restrictions and tariff measures established under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, signed into law on September 18.

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

The U.S. Department of the Treasury has announced enforcement actions against Bank of America, totalling more than $1.21 billion, over deficiencies in anti-money laundering (AML) controls, suspicious activity reporting and sanctions compliance.
#TTCSN #TürkiyeTradeCompliance

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

Switzerland’s Federal Department of EAER has revised the authorisation form for money transfers under Article 21 of the Ordinance on Measures against the Islamic Republic of Iran. From 13 October 2026, only the updated authorisation form will be accepted.

#TTCSN #TürkiyeTrade

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

Japan’s Ministry of Economy, Trade and Industry (METI) has expanded its export control measures against Russia, adding industrial goods and chemicals to the list of items requiring prior approval for export.
#TTCSN #TürkiyeTradeCompliance #SanctionsUpdate #Japan #Russia #Export

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

OFAC has issued Russia-related General Licence 135, authorising transactions that would otherwise be prohibited under the Russian Harmful Foreign Activities Sanctions Regulations (31 CFR Part 587) and the Ukraine/Russia-Related Sanctions Regulations (31 CFR Part 589).
#TTCSN

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

OFAC has reached a $175,015 settlement with Pegasus Worldwide Logistics, a California-based freight forwarding company, over four apparent violations of the Illicit Drug Trafficking Sanctions Regulations and six violations of reporting requirements.

#TTCSN #TürkiyeTrade

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

OFSI has amended and extended General Licence INT/2026/8893924, which permits the orderly wind-down of certain insurance and reinsurance arrangements involving designated Maritime Mutual entities and their subsidiaries under the UK Russia sanctions regime.

#TTCSN #TürkiyeTrade

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

The United Nations has removed Swiss company Logarcheo S.A. from the Iraq sanctions list maintained by the Security Council’s 1518 Committee. The company had been listed in April 2004 under the framework established by Resolution 1483 (2003)
#TTCSN #TürkiyeTradeCompliance

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

BIS has reached a settlement with Lambda Research Corporation concerning 66 alleged export-control violations involving Huawei. BIS imposed a $2 million civil penalty, with the payment suspended subject to the company’s compliance with the settlement terms.

#TTCSN #TürkiyeTrade

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

OFAC has designated nine individuals and two entities linked to the Venezuelan transnational criminal organisation Tren de Aragua under Executive Order 13224, as amended, and its transnational criminal organisation authorities.
#TTCSN #TürkiyeTradeCompliance #ExportControl

[Turkish Trade Compliance & Sanctions Network @ttcsnetwork]

OFAC has designated Cavalier Dynamics Teknoloji Ticaret Anonim Şirketi, an Istanbul-based Turkish company, as part of a broader action targeting networks allegedly involved in procuring weapons and weapons components for Iran’s Ministry of Defense and Armed Forces Logistics