Treasury's Office of Foreign Assets Control (OFAC) announced a settlement with SCG Plastics Co., Ltd., part of a multinational enterprise headquartered in Bangkok, Thailand. SCG Plastics has agreed to pay $20,000,000 to settle its potential civil liability for 467 apparent violations of OFAC sanctions on Iran.

Treasury’s Office of Foreign Assets Control (OFAC) is taking sweeping actions against several actors involved in Iran’s unmanned aerial vehicle (UAV) program, suppliers and customers of one of Iran’s largest steel producers, and Iranian automobile companies with connections to U.S.-designated entities Islamic Revolutionary Guard Corps (IRGC) and the Ministry of Defense and Armed Forces Logistics (MODAFL).

The State Departemnt designated four entities pursuant to Executive Order 13382, which targets proliferators of weapons of mass destruction and their means of delivery. These entities – three based in the People’s Republic of China and one in Belarus – have supplied missile‐applicable items to Pakistan’s ballistic missile programs, including its long-range missile program.

In an effort to further isolate the Russian and Belarus military-industrial complex,  the U.S. Treasury’s Office of Foreign Assets Control (OFAC) is designating 12 entities and 10 individuals pursuant to Executive Order (E.O.) 14038,  The individuals and entities OFAC is targeting include six revenue-generating state-owned enterprises (SOEs) and one entity and five individuals involved in facilitating transactions for a U.S.-designated major Belarusian defense sector enterprise.

The Administration is calling on Congress to give it additional tools to prevent terrorist groups and other malign actors from using crypto-currencies to circumvent US sanctions. Treasury Deputy Secretary Wally Adeyemo told the Senate Banking Committee last week that the Administration needs “additional tools to protect the American people.”

In a joint action with UK officials, the Treasury Department issued two new prohibitions to disrupt the revenue that Russia earns from its export of aluminum, copper, and nickel.  This new action prohibits the import of Russian-origin aluminum, copper, and nickel into the US and UK, and limits the use of Russian-origin aluminum, copper, and nickel on global metal exchanges and in over-the-counter derivatives trading.

Commerce Department’s Bureau of Industry and Security (BIS) added 11 entities to the Entity List .Five of the eleven entities are Russian and PRC entities were added for actions related to unmanned aerial vehicles (UAVs). Of these, four are part of a procurement network for components for UAV applications. These components are used to develop and produce Shahed-series UAVs which have been used by Iran to attack oil tankers in the Middle East and by Russia in Ukraine.

Treasury’s Office of Foreign Assets Control (OFAC) is taking action against Hamas, targeting Gaza- and Lebanon-based leaders of the terrorist group’s offensive cyber and unmanned aerial vehicle (UAV) operations. Concurrent with this action, the European Union is imposing sanctions targeting Hamas. 

Friday the Council of the European Union adopted a law covering EU-wide minimum rules for the prosecution of violation or circumvention of EU sanctions in member states. Certain actions will now be considered criminal offences in all member states, for example helping to bypass a travel ban, trading in sanctioned goods or performing prohibited financial activities. Inciting, aiding and abetting these offences can also be penalised. 

Dronemaker General Atomics Aeronautical Systems and General Dynamics Land Systems, have been sanctioned by the Chinese government for their sales to the government of Taiwan.    Last September China sanctioned Northrop Grumman and Lockheed Martin  on the same grounds. Missing from either announcement was Boeing, Taipei’s supplier of Harpoon anti-ship missiles.

The Treasury Department announced it is targeting a network facilitating shipments valued in the hundreds of millions for the Iranian military. Treasury's Office of Foreign Assets Control announced additional action against Iranian military revenue generation, targeting Oceanlink Maritime DMCC for facilitating the shipment of Iranian commodities on behalf of Iran's Armed Forces General Staff and Ministry of Defense and Armed Forces Logistics.

Commerce's BIS extended the Temporary Denial Order for Russian air cargo operator Aviastar-TU initially imposed in April 2022. Aviastar has continued to engage in conduct prohibited by the TDO and Regulations, including, but not limited to, on flights into and out of Russia from/to Hangzhou, China as well as domestically within Russia. 

On March 26, the United States hosted the inaugural meeting of the U.S.-Republic of Korea (ROK) bilateral Enhanced Disruption Task Force (EDTF), which is being established to counter illicit efforts by the Democratic People’s Republic of Korea (DPRK) to circumvent sanctions concerning the procurement of refined petroleum.   Through EDTF, the United States and ROK are pursuing a wide range of joint actions to disrupt DPRK refined oil procurement networks, including by exposing DPRK sanctions evasion activities, reviewing options for autonomous sanctions designations, and engaging private sector and third-party actors throughout the region who facilitate – either knowingly or unwittingly – the DPRK’s oil procurement networks.

Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning six entities, one individual and two tankers that are based or registered in Liberia, India, Vietnam, Lebanon, and Kuwait that have engaged in facilitating commodity shipments and financial transactions for the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), the Houthis, and Hizballah.

Treasury’s Office of Foreign Assets Control (OFAC) sanctioned 11 individuals and entities supporting the regime of Syrian President Bashar Al-Assad through the facilitation of illicit financial transfers and trafficking of illegal drugs, as well as the extraction and export of Syrian commodities.  

Treasury’s Office of Foreign Assets Control (OFAC) sanctioned a Chinese company responsible for a wide range a wide of "malicious cyber operations" targeting high-ranking U.S. government officials including staff at the White House; the Departments of Justice, Commerce, the Treasury, and State; members of Congress, including both Democrat and Republican Senators; the United States Naval Academy; and the United States Naval War College’s China Maritime Studies Institute. The organization also is responsible for cyber attacks on multiple Defense Industrial Base victims, including a defense contractor that manufactured flight simulators for the U.S. military, a Tennessee-based aerospace and defense contractor, and an Alabama-based aerospace and defense research corporation. Additionally, APT 31 actors gained unauthorized access to a Texas-based energy company, as well as a California-based managed service provider.

Treasury’s Office of Foreign Assets Control (OFAC) sanctioned thirteen entities and two individuals for operating in the financial services and technology sectors of the Russian Federation economy including persons developing or offering services in virtual assets that enable the evasion of U.S. sanctions. “Russia is increasingly turning to alternative payment mechanisms to circumvent U.S. sanctions and continue to fund its war against Ukraine,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence, Brian E. Nelson.

Treasury’s Office of Foreign Assets Control (OFAC) targeted three procurement networks –– based in Iran, Türkiye, Oman, and Germany –– that have supported Iran’s ballistic missile, nuclear, and defense programs. These networks have procured carbon fiber, epoxy resins, and other missile-applicable goods for Iran’s arms proliferation activities.

Treasury’s Office of Foreign Assets Control (OFAC) designated two individuals and two entities for services they provided the Government of the Russian Federation (GoR) in connection with a foreign malign influence campaign, including attempting to impersonate legitimate media outlets.   Specifically, via their companies,  SDA and Structura, the two created a sprawling network of over 60 websites that impersonated legitimate news organizations, and which used misleading social media accounts to amplify the content of the spoofed websites.

Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Wendy Carolina Morales Urbina, Nicaragua’s Attorney General, for being complicit in the Ortega-Murillo regime’s oppression.  In her capacity as Attorney General, Morales Urbina is responsible for enabling the Ortega-Murillo regime to confiscate real property formerly belonging to independent media outlets, international organizations, and political prisoners

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