April 6, 2020: U.S. responds to Iran claims of humanitarian distress
Iran’s Sanctions Relief Scam FACT SHEET OFFICE OF THE SPOKESPERSON APRIL 6, 2020 Share “I think the Iranian [people] love America. I think they’d love to be free…They love what we stand for…if they...
View ArticleOFAC Statutory Maximum Fines indexed to inflation again
Implementation of the Federal Civil Penalties Inflation Adjustment Act 4/8/2020 The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is amending its regulations to implement for...
View ArticleOFAC’s got a brand new bag (of DPRK regs)…
Publication of Amended North Korea Sanctions Regulations 4/9/2020 OFAC is amending the North Korea Sanctions Regulations, 31 C.F.R. part 510, to further implement the North Korea Sanctions and Policy...
View ArticleOFAC updates Venezuela General License 5, and amends an FAQ
Today, OFAC amended Venezuela General License 5 (new version is C), which relates to the PdVSA 2020 8.5% bond, and issued the following amended Frequently Asked Question (FAQ): 595. What does...
View ArticleNorth Korea Cyber Threat Advisory
The United States Issues an Advisory on North Korean Cyber Threats MEDIA NOTE OFFICE OF THE SPOKESPERSON APRIL 15, 2020Share On April 15, the U.S. Departments of State, Homeland Security, and...
View ArticleOFAC issues Humanitarian Assistance Fact Sheet
Publication of a Fact Sheet on the Provision of Humanitarian Assistance and Trade to Combat COVID-19 4/16/2020 On April 16, the United States Department of the Treasury’s Office of Foreign Assets...
View ArticleHumanitarian Assistance Fact Sheet: Iran
Iran The Iran sanctions program is focused on denying the Iranian regime the funding it needs to continue its ongoing violent and destabilizing activities around the world. To ensure that humanitarian...
View ArticleOFAC Humanitarian Aid Fact Sheet: Venezuela
Venezuela The Venezuela sanctions program is designed to limit the illegitimate former Maduro regime’s sources of revenue and hold accountable those who stand in the way of restoring democracy in...
View ArticleOFAC Humanitarian Aid Fact Sheet: North Korea
North Korea Among other objectives, OFAC’s North Korea sanctions are intended to stop the Government of North Korea from further developing its WMD programs by restricting its access to the...
View ArticleOFAC Humanitarian Aid Fact Sheet: Syria
Syria OFAC’s Syria sanctions are designed to deter Bashar al-Assad, his cronies, foreign enablers, and the Government of Syria from accessing the international financial system and global supply chain....
View ArticleOFAC Humanitarian Aid Fact Sheet: Cuba
Cuba The Cuba embargo targets Cuba’s Communist regime, which has for decades oppressed the Cuban people and failed to meet their most basic needs. Though the Cuba embargo remains in place, and most...
View ArticleOFAC Humanitarian Aid Fact Sheet: Ukraine/Russia
Ukraine/Russia-Related Russia is engaged in a broad range of malign activities globally, including interference in elections, ongoing aggression towards Ukraine, providing support to the Bashar...
View ArticleOFAC Humanitarian Aid Fact Sheet: Other Guidance Resources
Other Cross-Programmatic Guidance • “OFAC Licensing Process” – Provides guidance on the OFAC licensing process. • “Guidance Related to the Provision of Humanitarian Assistance by Not-For-Profit Non-...
View ArticleOFAC wants your pandemic thoughts…
The Office of Foreign Assets Control (OFAC) Encourages Persons to Communicate OFAC Compliance Concerns Related to the Coronavirus Disease 2019 (COVID-19) 4/20/2020 On March 13, 2020, President Trump...
View ArticleApril 21, 2020: Venezuela General License 8 updated
The new version is F, and now expires on December 1st. The main thrust is: GENERAL LICENSE NO. 8F Authorizing Transactions Involving Petróleos de Venezuela, S.A. (PdVSA) Necessary for the Limited...
View ArticleApril 22, 2020: OFAC removes narcos, updates Libyans
On Wednesday, OFAC removed the following listings from the counter narcotics trafficking sanctions program: HERRERA GARCIA, Otto Roberto (a.k.a. VILLAGRAN, Francisco), Guatemala; DOB 14 Mar 1965;...
View ArticleSanctions in the age of pandemic…
See my new article Are Sanctions Cruel? over at KYC360 – it’s about the current brouhaha over relaxing sanctions because sanctioned countries are apparently having difficulties receiving aid – and the...
View ArticleOFAC adds 2 to Iran and counter-terror sanctions
Today, OFAC added the following individual: DIANAT, Amir (a.k.a. ALMTHAJE, Ameer Abdulazeez Jaafar; a.k.a. AL-MUTAHAJI, Amir ‘Abd-al-‘Aziz Ja’far; a.k.a. AL-TAA’EI, Amir; a.k.a. DIANAT, Amir...
View ArticleBIOMIN America pays $257,862 for misunderstanding OFAC sanctions requirements
So, BIOMIN America and its foreign subsidiaries made 30 sales of non-U.S. agricultural commodities to a company in Cuba without getting a license for it. Interestingly enough, those 30 sales resulted...
View ArticleOFAC fixes some oopsies (they call them “administrative updates”)…
Specially Designated Nationals (SDN) List Administrative Updates 5/7/2020 OFAC has issued administrative updates to the following SDN records. The updates reclassified certain aliases as weak. The...
View Article