Events listed in US Sanctions
Counter Terrorism Designations
ID 21557
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office added three individuals and three entities to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to existing sanction regulations (31 CFR Part 594 and Executive Order 13224) for their engagement in the facilitation of financial activities for the terrorist organization ...
Iran-related Designations and Designation Update; Non-Proliferation Designation ...
ID 21542
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office added several individuals to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to existing sanction regulations (Executive Order 13553) for their engagement in the Iran’s Islamic Revolutionary Guard Corps (IRGC) which is responsible for the brutal suppression of Iranian people ...
Counter Terrorism Designation Removal
ID 21514
The Office of Foreign Assets Control (OFAC) has published a press release informing about new sanction measures. Specifically, the Office has removed three individuals (or rather three names) from its Specially Designated Nationals and Blocked Persons List (SDN List) that were previously sanctioned for their engagement in global terrorism pursuant to Statutory Instrument 31 CFR Part 594, the Global Terrorism Sanctions Regulations. Accordingly, the ...
FinCEN Identifies Virtual Currency Exchange Bitzlato as a “Primary Money Laundering ...
ID 21503
The Financial Crimes Enforcement Network (FinCEN) has published a press statement to announce the first ever designation of a financial institution as a „primary money laundering concern in connection with Russian illicit finance“ under the National Defense Authorization Act. Specifically, FinCEN has issued an order to designate the virtual currency exchange Bitzlato Limited (Bitzlato) incorporated in Hong Kong as such „primary money laundering concern“ ...
Issuance of Venezuela-related General License and Amended Venezuela-related ...
ID 21485
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued General License 5J (superseding General License 5I) in connection with Venezuela-related sanctions. Specifically, the license authorizes financial transactions related to the Petroleos de Venezuela, S.A. 2020 8.5% Bond on or after April 20, 2023. OFAC also updated a corresponding frequently asked question (FAQ) 595 which reads as follows – as quoted: ...
Issuance of Counter Terrorism General License and Amended Frequently Asked Question
ID 21434
The Office of Foreign Assets Control (OFAC) has published a press release informing about new sanction measures. Specifically, in a first step, the Office has issued a new General License (GL 21B) to permit (financial) transactions that are necessary to provide „Limited Safety“ in connection with specified sanctioned vessels (e.g. emergency repairs, actions necessary to provide the safety of crew members, etc.) that would ...
Implementation of the Federal Civil Penalties Inflation Adjustment Act
ID 21432
The Office of Foreign Assets Control (OFAC) has published a final rule on its website regarding penalties for violations of OFAC sanction regulations. The rule has meanwhile been published in the Federal Register as well. Specifically, the Office is making inflation adjustments to the civil monetary penalties outlined in numerous instruments – in each case in § 701 – for violations of any terms ...
Issuance of Venezuela-related General License and Amended Frequently Asked Questions
ID 21383
The Office of Foreign Assets Control (OFAC) has published a press statement to inform of the issuance of a new Venezuela-related General License (GL) and several revised frequently asked questions (FAQs) in this context. Specifically, OFAC has issued new license GL 31B which supersedes GL 31A to permit „Certain Transactions Involving the IV Venezuelan National Assembly, the Interim President of Venezuela, and Certain Other ...
Iran-related Designations and Designation Update; Non-Proliferation Designations ...
ID 21378
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office added several individuals to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to existing sanction regulations (Executive Order 13382) for their engagement in the Iranian company „Qods Aviation Industries (QAI)“ which is involved in the production of unmanned aerial vehicles ...
Counter Terrorism Designations
ID 21373
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office added several individuals and two entities to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to existing sanction regulations to combat global terrorism (31 CFR Part 594 and Executive Order 13224). The following persons and entities are affected and now ...