This month’s top stories:
- Vietnam cracks down on counterfeit goods amid threat of US tariffs;
- Belgian authorities launch corruption investigation into procurement involving NATO; and
- Government of Guinea revokes mining concessions held by 46 companies.
Europe
Belgium / Luxembourg: Corruption investigation launched into procurement involving NATO
On 14 May, Belgian authorities announced the launch of a cross-border investigation probing alleged corruption in military procurement involving current and former NATO staff. Staff at the NATO Support and Procurement Agency (NSPA) are suspected of leaking confidential information to defence contractors to help them secure arms contracts for drones and ammunition. In return, officials allegedly received bribes, some of which were funnelled through fictitious consultancy firms. The investigation extends to Luxembourg, Italy, Spain, the US and the Netherlands. NATO Secretary General Mark Rutte confirmed full cooperation with authorities.
[Written by Anna Tonioli]
UK: British accountant sanctioned over Russia shadow fleet deals
On 20 May, the UK imposed sanctions on British accountant John Michael Ormerod for his alleged involvement in the procurement of ships for Russia’s shadow fleet. The details of his alleged activity have not been disclosed, but Financial Times reported in October 2024 that from December 2022 to August 2023, Ormerod helped Russian energy corporation Lukoil acquire 25 second-hand oil tankers for USD 700 million. Responding to the Financial Times reporting, Ormerod’s lawyers stated that he had conducted due diligence to ensure the transactions did not violate sanctions regimes and that he had cut ties to the ships by September 2023. Ormerod’s UK bank accounts and other assets were frozen as part of the measures taken by the UK government, and he was disqualified from serving as a director.
[Written by Esperança Pereira]
Austria: Former chancellor Sebastian Kurz acquitted of perjury after appeal
On 26 May, Sebastian Kurz, the former Conservative chancellor of Austria (2017-2017; 2020-2021), was acquitted of perjury and had an eight-month suspended sentence overturned. Kurz had been found guilty in August 2024 of lying under oath before a parliamentary investigative committee that had been probing allegations of corruption in his government. Kurz had told the committee he had not played a central role in appointing an associate to manage Österreichische Beteiligungs AG (ÖBAG), the Austrian state-owned holding company for the country’s sovereign wealth fund. The ruling confirms Kurz may return to politics, although an ongoing inquiry into his alleged use of taxpayers’ money to buy positive tabloid coverage could result in corruption charges against him.
[Written by Esperança Pereira]
Slovakia: Central Bank governor found guilty of corruption
On 29 May, a Slovak criminal court found central bank governor and European Central Bank policymaker Peter Kazimir guilty of corruption. Kazimir was fined EUR 200,000 for paying a bribe of EUR 48,000 to the then head of the Slovak tax office in 2016 to accelerate tax proceedings regarding companies owned by one of his acquaintances. Kazimir is set to appeal the decision, and his legal representatives argued that recent changes to the Slovak penal code – which shortened the statute of limitations and reduced the punishment for corruption – should apply. Kazimir has pleaded not guilty and described the charges against him as illegal and fabricated.
[Written by Ben Andrews]
Middle East and North Africa
Syria: US general license provides extensive sanctions relief
On 23 May, the US lifted a broad range of sanctions against Syria following president Donald Trump’s announcement during a visit to Saudi Arabia earlier in May. The Department of Treasury issued a general license providing immediate sanctions relief for Syria and authorising transactions with Syria’s new interim government, the Central Bank, and multiple state-owned entities. Concurrently, the State Department issued a waiver to enable foreign partners to offer essential services such as water and electricity. The US has stipulated that the incoming sanctions relief is contingent on the new Syrian government safeguarding its religious and ethnic minorities and not offering safe harbour to terrorist groups. The easing of US sanctions on the country will allow greater engagement from humanitarian organisations as well as open Syria back up for foreign investment and trade after over 13 years of relative financial isolation during the civil war.
[Written by Haddie Hamal and Natasha Teta]
Former Soviet Union
Russia: Russian cybercriminals implicated in latest Europol-led malware network takedown
Between 19 and 22 May, Europol and a joint taskforce of European and North American agencies disrupted a major malware distribution network led by Russian cybercriminals. The operation also resulted in the seizure of EUR 3.5 million in cryptocurrency. Some of the Russian nationals behind this network were additionally linked to prominent malware operations such as Qakbot, Danabot, and Trickbot, as well as Conti Group, a Russian government-backed ransomware blackmail group which primarily targeted the US, UK, and Canada amid the Covid-19 pandemic. This marks the latest chapter in the coordinated cybercrime investigation dubbed Operation ENDGAME, which carried out one of the largest takedowns of botnets in late May 2024.
[Written by Nick Sergeef]
Russia: EU agrees 17th sanctions package and considers lowering oil price cap
On 20 May, the EU agreed its 17th package of sanctions aiming to reduce Russia’s energy revenues and restrict its access to military technologies. The sanctions package targets an additional 189 vessels in the shadow fleet, Russian oil producer Surgutneftegaz, and a host of Russian companies in the military sector. The approved package comes against the backdrop of questions around the US's commitment to increase pressure on the Kremlin as US lawmakers announced their intention to introduce new wide-ranging sanctions on Russia and countries trading with Russia whilst President Trump downplayed the urgency of new economic restrictions. Preparing its 18th sanctions of package, the EU is reportedly looking to reduce the oil price cap from USD 60 per barrel in a move designed to intensify sanctions against Russia and respond to falls in oil prices which have continued throughout 2025. However, the US has signalled it is reluctant to adjust the price cap.
[Written by James Whittingham and Matthew Crane]
Russia: President Vladimir Putin calls for punitive action against Western companies still operating in Russia
On 26 May, Russian President Vladimir Putin called for Western companies still operating in Russia to be “strangled” in retaliation against Western attempts to suffocate the Russian economy. He singled out Russian companies’ continued use of Microsoft and Zoom as undermining the domestic IT industry. It is unclear whether this represents an official shift in policy since February 2025, when Putin indicated a willingness to accept the eventual return of Western companies under strict conditions designed to favour domestic players. On 30 April, Financial Times reported that Western commodity traders, insurers, and shipping groups were readying themselves for a possible return to Russia in the event that US sanctions should be eased, balancing this opportunity with the continued restrictions imposed by the EU and UK.
[Written by Ben Andrews]
Kyrgyzstan: Journalistic freedom continues to be tightened
On 26 and 27 May, six current and former journalists at Kyrgyz independent media outlet Kloop were detained, standing accused of spreading anti-government disinformation and inciting unrest. Since 2020, the Kyrgyz government has been eroding media freedom, notably passing the 2022 ‘false information’ bill that grants the Kyrgyz government greater powers to remove online content. Kyrgyzstan has been sliding down the World Press Freedom Index in recent years, now ranking 144th out of 180 countries in the ranking produced by Reporters Without Borders. This has aligned with greater restrictions on civil society and decreased investor confidence since the government nationalised the Kumtor gold mine in 2021.
[Written by Nick Sergeef]
Americas
US: Department of Treasury sanctions Filipino company accused of facilitating cyber scams
On 29 May, the Department of Treasury sanctioned Philippines-based digital infrastructure provider Funnull Technology Inc after finding it facilitated cyber scams that resulted in over USD 200 million in losses for US victims. The Treasury Department accused Funnull of offering computer infrastructure to websites involved in virtual currency investment scams. In parallel with the Department of Treasury’s action, the Federal Bureau of Investigation also shut down websites linked to Funnull. The cryptocurrency industry continues to be a controversial topic in the US as major investment banks are cautious to expand their cryptocurrency investments and assets given the volatility and unclear endorsements from regulators regarding the industry.
[Written by Natasha Teta]
Mexico: First-ever judicial elections held under controversial popular vote model
On 1 June, Mexico held its first-ever judicial elections, which will select more than 800 magistrates and judges, including those in the Supreme Court, via popular vote. In September 2024, Mexico passed a constitutional reform changing its appointment-based system to one determined by popular vote, with the objective of combatting corruption and increasing accountability within the judicial system. The shift has received significant criticism from other nations and civil society organisations, which claim that the popular vote model will politicise the judicial system and pose a significant risk to democracy and economic progress. Questions raised by critics also centre around the suitability and the vetting process for some of the candidates. The elections attracted an estimated turnout of just 13 percent.
[Written by Natasha Teta]
Sub-saharan Africa
Mauritania: Former president’s prison sentence on corruption charges increased to 15 years following appeal
On 14 May, Mauritania’s Court of Appeal increased the prison sentence of former president Mohamed Ould Abdel Aziz (2009-2019) from five years to 15 years, along with a USD 3 million fine, following an appeal against his 2023 conviction. Aziz was initially found guilty of corruption, embezzlement, and illicit enrichment after diverting an estimated USD 90 million in public funds through state contracts and family-linked businesses. Known in local media as the 'Decade of Corruption' case, the trial is the country’s longest-running judicial proceeding, scrutinising Aziz’s decade-long rule and freezing USD 100 million in assets. This verdict aligns with broader efforts across sub-Saharan Africa to tackle entrenched corruption and restore public trust in governance. International observers have noted that these efforts are key to enhancing investor confidence and reinforcing the rule of law in the region. However, some warn that such efforts must be balanced by following due process, as public trust in institutions is still low in Africa, and the perception of political persecution will cause further harm. Aziz is expected to appeal the latest verdict to the Supreme Court.
[Written by Gerhard van Niekerk]
Guinea: Government revokes mining concessions held by 46 companies
On 15 May, the Guinean government revoked 53 mining licences held by 46 companies and Guinean soldiers seized the offices of SRG Guineé, the local subsidiary of Falcon Energy Materials Plc, an Abu Dhabi-headquartered mining company. This action was part of a broader initiative led by Guinean military ruler Mamady Doumbouya (2021-present), who signed an order to repossess purportedly underperforming concessions in bauxite, gold, diamond, graphite, and iron. The government justified the move by citing a local mining law and declared the concessions were returned to the state “free of charge”. Guinea is a leading source of bauxite, essential for aluminium production. While these measures may be an indication of the Guinean government's willingness to tighten its oversight of the mining sector and impose stricter regulation on foreign firms, there is no indication yet that the Guinean government is planning on any fundamental policy shifts towards the mining sector, as has been witnessed in Mali, Burkina Faso and Niger, where military regimes have introduced staunchly anti-Western and nationalistic terms on foreign mining firms. Should the Doumbouya regime become more politically and commercially aligned with these regional players in the future, it is possible he will seek to impose similar policies, which could have operational implications for larger foreign mining firms.
[Written by Gerhard van Niekerk]
Asia Pacific
Vietnam: Government cracks down on counterfeit goods following tariff threats
On 14 May, Vietnamese Prime Minister Pham Minh Chinh urged relevant government agencies to address widespread counterfeiting, smuggling, tax fraud, and other adjacent issues in Vietnam. He called for a special task force to be established and a campaign against counterfeit goods to be launched. The government disclosed figures in May showing 1,100 cases of counterfeit and intellectual property violations; 25,100 cases of trade and tax frauds; and 8,200 cases of smuggling contraband and prohibited articles since the beginning of 2025. On 30 May, Vietnamese authorities seized thousands of counterfeit Prada handbags, Rolex watches, and other imitation luxury goods during a high-profile raid at the Saigon Square Shopping Mall in Ho Chi Minh City, which the US Trade Representative had identified on its 2024 list of markets known for counterfeit goods. The crackdown on counterfeit goods comes amid the threat of major trade tariffs from the Trump administration designed to tackle IP infringements in Vietnam.
[Written by Morgan Stark]
