US sanctions Zurich-headquartered asset manager and its UAE-based regional head

The US Treasury Department's Office of Foreign Assets Control has imposed sanctions on Switzerland-headquartered DuLac Capital Ltd and UAE-based Switzerland national Anselm Oskar Schmucki. In a statement on 19 May, the US department said it had actioned sanctions involving 22 people and 104 entities and targets, coordinated with G7 and other international partners.   Among those individuals and entities targeted, it identified DuLac Capital in the section of the statement covering 'Additional measures in relation to Russia's financial services sector, where Huriya Private was also sep...