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 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.
Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned three individuals for providing support to North Korea through illicit financing and malicious cyber activity.
Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on four senior officials of Iran's Islamic Revolutionary Guard Corps Intelligence Organization (IRGC-IO) in a groundbreaking move. In addition to the action against Iran, OFAC has implemented the State Department's designation of Russia's Federal Security Service (FSB) for its involvement in the wrongful detention of U.S. nationals abroad.
A New York attorney has pleaded guilty to conspiring to commit international money laundering in connection to maintaining properties in the U.S. owned by sanctioned Russian oligarch Viktor Vekselberg. The attorney, Robert Wise of Pelham, New York, admitted to taking part in a scheme that funneled approximately $3.8 million in U.S. dollars to six real properties, valued at around $75 million, on behalf of Vekselberg.
London-based tobacco giant, British American Tobacco p.l.c. (BAT), has agreed to pay more than $600 million to settle civil charges related to alleged violations of the North Korea and Weapons of Mass Destruction Proliferators Sanctions Regulations, according to a statements from the US Treasury's Office of Foreign Assets Control (OFAC) and the Justice Department.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on one individual and six entities involved in a sanctions evasion network. This network facilitated Iran's procurement of electronic components for its military programs, including those used in unmanned aerial vehicles (UAVs).
The European Union (EU) imposed a ban on seaborne imports of Russian crude oil in response to the invasion of Ukraine, setting a price cap of USD60 for Russian crude oil. The effectiveness of these sanctions is being undermined by five "laundromat" countries: China, India, Turkey, United Arab Emirates (UAE), and Singapore, according to a recent report by Helsinki-based Centre for Research on Energy and Clean Air.
The U.S. Supreme Court has rejected Turkey's state-owned Halkbank's claim that it is protected under the 1976 Foreign Sovereign Immunities Act (FSIA), which limits the jurisdiction of American courts over lawsuits against foreign countries. The court ruled that the FSIA does not provide foreign states and their instrumentalities with immunity from criminal proceedings, according to conservative Justice Brett Kavanaugh.
Two Iran-controlled trading firms pleaded guilty to sanctions evasion in support of Iran's ballistic missile program. Punishment included a small fine and "corporate probation."
In a coordinated action, Treasury's Office of Foreign Assets Control (OFAC) has designated an extensive international money laundering and sanctions evasion network, consisting of 52 individuals and …
A paper issued by CSIS, a Washington think tank, details progress to date of the Putin regime in maintaining advanced technology supply lines in the face of Allied sanctions. The report assesses the impact of Western sanctions and allied export regulations on Russia's defense sector, focusing on the production of core weapons and systems.