For global financial institutions, sanctions compliance in 2023 was focused on Russia, China and terrorist organizations, specifically Hamas and Hezbollah. Each of these sanctions programs differs in size, reach, complexity and participation. We are living in unsettled and unsettling times. For sanctions practitioners, this means that 2024 will be another challenging year.  

This whitepaper is intended to provide a high-level overview of the current sanctions landscape and the developments we might expect to see in 2024. Given the complexities of sanctions compliance and the differences in national and regional regimes, financial institutions should consult with counsel to determine if and how the issues discussed herein may apply to them.