OFAC: Ex-Head of Central Bank of Lebanon Sanctioned

Posted 8/10/23

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated Riad Salameh, the former governor of Lebanon's central bank, and four of his close associates for corrupt and unlawful activities. Salameh allegedly used his position to funnel hundreds of millions of dollars through shell companies for personal enrichment, investing in European real estate.

The sanctions do not extend to the Banque du Liban (BdL) or its U.S. correspondent bank relationships.

This item is available in full to subscribers.

Attention subscribers

To continue reading, you will need to either log in to your subscriber account, below, or purchase a new subscription.

If you are a current subscriber, and had an account on our previous site, you already have an account. If you have not yet logged into our new site, click here to reset your password.

Otherwise, click here to view your options for subscribing.

E-edition

September 2023 Export Practioner

View this issue

Browse other issues

Recent stories

International Atomic Energy Agency (IAEA) 67th General Conference

Under Secretary for Arms Control and International Security Ambassador Bonnie D. Jenkins will travel to Vienna, Austria on September 24-28 to attend the 67th General Conference of the International …

OFAC: Reminder to file the 2023 Annual Report of Blocked Property

On July 3, 2023, the Office of Foreign Assets Control (OFAC) issued a recent actions notice, reminding holders of property blocked pursuant to OFAC sanctions regulations published in Chapter V of Title 31 of the Code of Federal Regulations (C.F.R.) of the requirement to provide OFAC with an Annual Report of Blocked Property (ARBP).

State: Defense Trade Advisory Group

The Defense Trade Advisory Group (DTAG) will meet in open session from 1:00 p.m. until 5:00 p.m. on Thursday, October 12, 2023. This will be a hybrid meeting

CHIPS Act Security Rule Released

The U.S. Department of Commerce today released the final rule implementing the national security guardrails of the bipartisan CHIPS and Science Act. The rule elaborates on two core provisions of the statute: the first, prohibiting CHIPS funds recipients from expanding material semiconductor manufacturing capacity in foreign countries of concern for ten years; and the second, restricting recipients from certain joint research or technology licensing efforts with foreign entities of concern.

WTO: E-Commerce Moratorium Debate

The United States, the European Union and other proponents on Monday apparently failed to provide any convincing reasons as to why the World Trade Organization’s 1998 moratorium on customs duties on electronic transmissions should be continued beyond the 13th ministerial conference, which is going to be held in Abu Dhabi in February 2024, our correspondent writes.

EU Customs Reform First Status Report Published

The European Commission tabled a customs reform package on 17 May 2023. Along with a number of other provisions, key to the reform would be the establishment of an EU customs authority, which would oversee a new customs data hub.