31 C.F.R. § 501.603 of the Reporting, Procedures and Penalties Regulations (RPPR) requires holders of blocked property to provide the Office of Foreign Assets Control (OFAC) with a comprehensive list of all blocked property held as of June 30 of the current year by September 30.
OFAC will retire the PIP, DEL, and SDALL.ZIP sanctions list file formats on or about August 15, 2023. OFAC will continue to offer for public download, the XML, CSV, and FF file formats, the ZIP files SDN_XML and SDN_Advanced, and PDF versions for OFAC’s sanctions list(s).
The Council of the European Union has agreed on a negotiating position for a draft directive designed to improve the tracking, identification, freezing, confiscation, and management of criminal assets, While legislation in Washington aims to provide additional aid to Ukraine using assets confiscated from the Central Bank of the Russian Federation and other Russian sovereign assets.
Treasury's Office of Foreign Assets Control (OFAC) has announced the imposition of sanctions on four companies and one individual connected to the notorious Russian military group, PMC Wagner (Wagner …
Treasury’s Office of Foreign Assets Control (OFAC) and His Majesty’s Treasury’s Office of Financial Sanctions Implementation (OFSI) have jointly published a humanitarian Factsheet on Humanitarian Assistance and Food Security in relation to Russia sanctions. This Factsheet is a testament to the OFAC-OFSI Enhanced Partnership, where the two agencies continue to make ongoing efforts to effectively communicate and implement new sanctions in close coordination with each other.
Friday, the EU Council announced the adoption of the eleventh comprehensive package of sanctions, imposing restrictive measures on an additional 71 individuals and 33 entities identified as …
The Treasury Department’s Office of Foreign Assets Control announced yesterday that it has designated Burma’s Ministry of Defense and two regime-controlled financial institutions that facilitate much of the foreign currency exchange within Burma and enable transactions between the military regime and foreign markets, including for the purchase and import of arms and related materiel.
A large group of Republican senators introduced legislation yesterday requiring the President to submit any sanctions relief for Iran for Congressional review before taking action. Main …
Treasury's Office of Foreign Assets Control (OFAC) has announced sanctions against two Syrian money service businesses, Al-Fadel Exchange and Al-Adham Exchange Company, for their covert aid to the …
Treasury’s Office of Foreign Assets Control (OFAC) designated four companies generating revenue from, and contributing to, the conflict in Sudan. The entities designated today are affiliated with the two embattled forces that are fueling the ongoing conflict in Sudan: two companies affiliated with the paramilitary Rapid Support Forces (RSF) and two companies affiliated with the Sudanese Armed Forces (SAF). Consistent with OFAC’s policy of supporting the basic needs of vulnerable populations while continuing to deny resources to malign actors, OFAC is issuing three general licenses (GLs) concurrent with today’s action.
American fashion brand Guess has reacquired its 30% stake from its Russian partner Vyacheslav Shikulov, an unusual move for the Russian fashion market. The deal, valued at €8 million (US$8.5 million), has consolidated 100% of Guess's Russian business after receiving approval from the US Treasury Department.
The Treasury Department’s Office of Foreign Assets Control has sanctioned four entities and one individual involved in obfuscated revenue generation and malicious cyber activities that support the North Korean government.
The Treasury Department Office of Foreign Assets Control yesterday announced a $3.3 million settlement with Murad LLC and a $175,000 settlement with a natural US person for violations of US sanctions on Iran.
The United States, backed by the G7 and other international allies, is ramping up worldwide sanctions and restrictive economic measures to further hinder Russia's warfighting capabilities. Commerce, Treasury and the State Department issued separate and joint actions and rules reaching from icebreakers to rubber, with a primary focus on Russia's extractive and weaponry industries.
Commerce and the Justice Department announced actions against an enterprise to ship aircraft parts to sanctioned carriers in Russia. Assistant Secretary for Export Enforcement, Matthew S. …
The leaders of the House Foreign Affairs Committee introduced legislation Tuesday to impose sanctions on activities supporting Iran’s missile and drone program ahead of the October expiration of the United Nations missile ban on Iran.
Treasury’s Office of Foreign Assets Control (OFAC) has removed Czech nuclear engineering firm Škoda JS A.S. from its Sectoral Sanctions Identifications List, following the acquisition of the energy services company by Czech energy giant ČEZ. The acquisition was made to mitigate the risk of sanctions affecting key supplies for ČEZ's nuclear power plants. Škoda JS is a leading supplier of key components and equipment for nuclear power plants, and had been owned by a Russian entity.
European Commission President Ursula von der Leyen on Tuesday detailed a new set of sanctions targeting Russia, as well as Chinese and Iranian firms, during a meeting with Ukrainian President Volodymyr Zelenskyy.
The saga of export enforcement actions against Iran’s first private airline continues with the May 5 renewal of the temporary denial order (TDO) against Mahan Airways and associated persons first issued in March 2008. As the Russian commercial fleet seeks maintenance and repair resources for its western fleet, Mahan's expertise in dodging sanctions is highly sought.
In a joint operation, the Treasury’s Office of Foreign Assets Control (OFAC) and authorities in the Republic of Türkiye have designated two financial facilitators of Syria-based terrorist …