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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.
The president of Orlando, Florida-based steel trading firm Metalhouse LLC, was sentenced to six years in prison for conspiracy to commit money laundering to promote violations of U.S. sanctions against Sergey Kurchenko, a pro-Russian Ukrainian oligarch. A business associate, a Belarusian national residing in Miami, was sentenced to 21 months in prison for his role in the scheme.
Officials from the United States and Mexico met virtually Friday for the U.S.-Mexico High-Level Economic Dialogue (HLED) Mid-Year Review. HLED principals discussed joint accomplishments and progress on the dialogue’s ongoing workstreams since the third HLED Ministerial in Washington, D.C. on September 29, 2023.
The inaugural trilateral meeting among the Finance Ministers of Japan, the Republic of Korea, and the United States took place in Washington, DC, furthering discussions from last August's Trilateral Leaders’ Summit at Camp David.
The ministers committed to promoting sustainable economic growth and financial stability through open and fair economic practices, while also addressing the volatility in foreign exchange markets, particularly concerning the depreciation of the Japanese yen and the Korean won.
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.
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