The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned 21 Venezuelan officials, including security and cabinet-level leaders aligned with Nicolás Maduro. These actions, pursuant to Executive Order 13692, target individuals for supporting Maduro’s repression of civil society and attempts to declare himself the winner of the July 28 presidential election, despite Edmundo González Urrutia being elected by a significant majority.
Treasury’s Office of Foreign Assets Control (OFAC) has announced full blocking sanctions against 118 entities and individuals, including Gazprombank and fifty other banks. Thursday's actions bring it in alignment with allied sanctions on Gazprombank—the largest bank not previously sanctioned. OFAC’s action includes the designation of Gazprombank, more than 50 internationally connected Russian banks, more than 40 Russian securities registrars, and 15 Russian finance officials.
Treasury’s Office of Foreign Assets Control (OFAC) has announced sanctions against 26 entities and individuals linked to the Syrian conglomerate Al-Qatirji Company. The company is involved in shipping Iranian oil to Syria and the People’s Republic of China,.
The Treasury reversed its denial of an application in 2022 to host small group, direct engagement conferences which include the participation of sanctioned individuals.
Treasury's Office of Foreign Assets Control (OFAC) is amending several Frequently Asked Questions (FAQs) today, as well as issuing two new FAQs related to payment of claims.
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued a final rule amending the Burma Sanctions Regulations to more fully implement the directives of Executive …
A change of regime in Washington may change the degree of sanctions pressure on Russian Arctic gas projects, though the ultimate decider remains the economics. With the White House encouraging production and exports of domestic LNG, the incentives to make it easier for the Moscow regime to sell their gas may not be that pronounced. Russia's Arctic LNG 2 project, spearheaded by Novatek, seeks to export nearly 20 million tons of liquefied natural gas annually to Europe and Asia. Strategically located on the Gydan Peninsula, it aims to leverage the Northern Sea Route to cut transit times. However, Western sanctions, particularly under the Biden administration, have constrained Russia’s ability to capitalize on its Arctic resources by limiting access to technology and financing.
A Turkish National was arrested for his involvement in a complex scheme to violate and evade U.S. sanctions related to petroleum products from Venezuela and Iran.. The scheme included obfuscating the identities of tankers moving the oil by re-naming and re-flagging vessels, covering vessel names with paint or blankets, and turning off the electronics that track vessels’ locations for the safety of ships and their crews
OFAC imposied sanctions today on one entity and one individual that form part of Republika Srpska (RS) President Milorad Dodik’s patronage network. The U.S. government previously designated President Dodik for using his official position to accumulate personal wealth through companies connected to himself and his son, Igor Dodik.
OFAC is issuing an OFAC Compliance Communiqué: Sanctions Compliance Guidance for the Maritime Shipping Industry This scenario-based guidance is to aid maritime sector stakeholders in identifying certain new or common fact patterns that may be indicative of sanctions evasion, addressing common counterparty due diligence issues, and implementing best practices to promote sanctions compliance
Citing a "blatant disregard of U.S. export controls and the TDO," the Bureau of Industry and Security has renewed the temporary denial order dating to 2008 on Iran's largest airline. "The de facto airline of Iran’s Islamic Revolutionary Guard Corps (IRGC)," according to industry observers, Mahan operates a modern fleet of western aircraft supported by a network of subsidiary airlines and service companies in African and Asian countries such as Burkina Faso, Gambia, Indonesia, and Mali.
Included in Wednesday's sanctions package, OFAC designated two Swiss lawyers for creating companies and trusts to help Russian clients evade sanctions. Andres Baumgartner and Fabio Libero Delco facilitated the illicit flow of funds while avoiding oversight due to a loophole in Swiss law that allows lawyers to serve as non-financial intermediaries under the guise of their profession without due diligence or reporting requirements.
Ottawa the UK and the EU Tuesday announced sanctions against 3 individuals and 4 entities for supplying weapons and military equipment to the Myanmar military. The sanctions announced respond to the ongoing and increasing aerial attacks by the Myanmar military regime. Over the last six months, military airstrikes killed almost 400 civilians, including more than 60 children, and injured more than 750 people.
The State Department, Commerce and the Treasury announced sweeping sanctions on nearly 400 individuals and entities across 17 jurisdictions involved in providing advanced technology, equipment, and financial support to Russia’s military-industrial complex.
The total amount of claims of 17 Russian TV channels to Google has reached 2 undecillion rubles, according to reporting by RBC . Undecillion is a unit with 36 zeros. Dating to a 2020 decision to block YouTube accounts controlled by parties subject to the 2014 US sanctions, Google's troubles compounded when it blocked Sputnik, RT and other state controlled channels in February 2022.
Executive Order 14114, issued by President Biden on December 22, 2023, amends E.O. 14068 to ban the importation of certain seafood and diamonds originating from the Russian Federation. The order mandates that the Department of Homeland Security (with the Treasury's concurrence) implement data collection for enforcing these prohibitions. Filed on: 10/21/2024 at 8:45 am Scheduled Pub. Date: 10/22/2024 FR Document: 2024-24341 PDF 9 Pages (126 KB) …
OFAC sanctioned Mirghani Idris Suleiman for leading the Sudanese Armed Forces’ (SAF) efforts to acquire weapons for use in its ongoing war with the Rapid Support Forces (RSF). Since April 2023, fighting between the Sudanese Armed Forces (SAF) and the paramilitary Rapid Support Forces (RSF) in Sudan, has resulted in the displacement of more than 10.2 million people, including internally displaced people (IDPs), asylum seekers and refugees, according to the UN Refugee Agency.
Treasury's Office of Foreign Assets Control (OFAC) has issued an updated Maritime Oil Industry Advisory for both government and private sector actors involved in the global maritime industry. Prepared by the Price Cap Coalition, (G7, the European Union, Australia, and New Zealand, the Advisory makes ":recommendations" which are routinely ignored by the relevant players, notably buyers China and India, Convenience Registries (Liberia, Maldives, Eswatini and the like), as well as firms located in G-7, EU or other third countries who disregard "advisories" when there is money to be made.
The United States, South Korea and Japan announced the formation of a Multilateral Sanctions Monitoring Team (MSMT) on North Korea as an alternative to the dissolved U.N. panel of experts that had monitored sanctions enforcement until April. VOA reports that members of the former U.N. panel of experts said the new mechanism could function effectively but might be hurt by the lack of a United Nations mandate. China and Russia, two of the five veto-wielding Security Council permanent members, will not participate in the newly formed team.
Thursday OFAC sanctioned eighteen companies, individuals, and vessels for their ties to Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF)-backed Houthi financial official Sa’id al-Jamal (al-Jamal) and his network. Included in this action are the captains of vessels transporting illicit oil as well as the companies that managed and operated these ships.
