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U.S. Treasury eases sanctions review
The U.S. Department of the Treasury has removed 84 names and companies from the sanctions lists, which currently include over 17,000 names. This step is part of efforts to simplify sanctions programs and make it easier for banks to track terror financing. The move comes after a comprehensive review that led to the delisting of 76 entities, aimed at maintaining the effectiveness and accuracy of sanctions by removing unnecessary items. Notably, over 3,000 names were added to the lists in 2024 alone, compared to 880 in 2017. Officials also pointed out that sanctions are not intended to be permanent tools; the Trump administration was prepared to impose sanctions on the two largest Russian oil companies, but the Biden administration avoided doing so to prevent an increase in oil prices following the Russia-Ukraine war.
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