ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
Home Uncategorized

Recent news from Treasury’s Office of Foreign Assets Control: November 17

November 17, 2023
Reading Time: 4 mins read
AML Innovation and Whistleblower Provisions of the NDAA Mean Important Changes Ahead

Guidance

  • OFAC Issues Sanctions Compliance Guidance to Facilitate Providing Humanitarian Assistance to the Palestinian People: OFAC on Nov. 14 issued an OFAC Compliance Communiqué: Guidance for the Provision of Humanitarian Assistance to the Palestinian People in response to questions from the NGO community and the general public on how to provide humanitarian assistance while complying with OFAC sanctions. Read the guidance.

The Office of Foreign Assets Control took a number of significant sanctions actions over the last week across multiple programs:

Russia-related Sanctions

  • OFAC Sanctions Maritime Companies, Vessels Transporting Oil Sold Above the Coalition Price Cap: In response to reports of Russian oil sales above the price cap determined by coalition partners, OFAC on Nov. 16 imposed sanctions on three entities and identified three vessels as blocked properties. The vessels used Price Cap Coalition service providers while carrying Russian crude oil above the Coalition-agreed price cap. OFAC identified the vessels Kazan, Ligovsky Prospect, and NS Century as vessels engaged in the export of Russian crude oil priced above $60 per barrel after the crude oil price cap took effect. The entities Kazan Shipping, Progress Shipping, and Gallion Navigation were designated pursuant to Executive Order 14024 for operating or having operated in the marine sector of the Russian economy. OFAC’s action underscores Treasury’s commitment, alongside its international partners, to responsibly reducing oil revenues that the Russian government can use to finance its invasion of Ukraine. Read more.

Balkans-related Sanctions

  • OFAC Designates Individuals and Entities under the Western Balkans program: OFAC on Nov. 16 designated eight individuals and six entities pursuant to Western Balkans-related Executive Order 14033 and Russia-related E.O. 14024. In a coordinated action, the U.S. Department of State also designated two individuals and 12 entities pursuant to E.O. 14024. The designees include Bosnia and Herzegovina-based, Savo Cvijetinovic, a member of the executive board of Republika Srpska (RS) President Milorad Dodik’s political party; Petar Djokic, the current RS Minister of Industry, Energy, and Mining; Dusko Perovic, head of RS representational office in Moscow, Russia; Montenegro-based, Miodrag “Daka” Davidovic and Branislav “Brano” Micunovic; North Macedonia-based, Sergey Samsonenko and his wife, Irina Samsonenko, among others. The designees are involved in corruption, money laundering and for their roles in destabilizing the situation in the Western Balkans. The designated entities include Kamchev Konsalting Skopje DOOEL, Orka Fajnans Skopje DOOEL, Orka Holding AD, Sistina Lajf Kear Sentar Skopje DOOEL and Bet City International DOO Skopje. The designated entities are owned or controlled by the designees. Read more.
  • In a related action, OFAC issued Russia-related General License 77, “Authorizing Limited Safety and Environmental Transactions Involving Certain Persons or Vessels”, Balkans-related General License 2, “Authorizing the Wind Down of Transactions Involving Orka Holding AD”, and Balkans-related General License 3, “Authorizing Certain Transactions Related to Agricultural Commodities, Medicine, Medical Devices, Replacement Parts and Components, Software Updates, or Medical Prevention, Diagnosis, or Treatment, or Clinical Trials Involving Orka Holding AD.” OFAC also issued a related Frequently Asked Question 1140 to answer if U.S. persons are authorized to engage in transactions related to the provision of medicine, medical devices, and medical services involving OFAC-designated Orka Holding and its subsidiaries. Read more.

Iran-related Sanctions

  • OFAC Designates Iran-Aligned Militias in Iraq: OFAC on Nov. 17 designated six individuals affiliated with the Iran-aligned militia group, Kata’ib Hizballah (KH) based in Iraq. KH is trained, funded, and supported by Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and responsible for recent attacks against the United States, and partners in Iraq and Syria following the attacks by Hamas against Israel. The U.S. Department of State is also designating Kata’ib Sayyid al-Shuhada (KSS) and KSS leader Hashim Finyan Rahim al-Saraji. KSS, another Iraq-based IAMG that receives support from the IRGC, has planned and been involved in attacks against U.S. personnel in Iraq and Syria. See the identifying information on the designees.  Read more.

Venezuela-related Sanctions

  • OFAC Partially Eases Venezuelan Aviation Sanctions: OFAC on Nov. 17 permitted maintenance on Venezuelan state-owned Conviasa’s Embraer fleet and authorizing transactions necessary to the repatriation of Venezuelan nationals. OFAC issued four new Venezuela-related Frequently Asked Questions 1141-1144. FAQs 1141-1144 answer questions related to General License 45A. FAQ 1144 answers whether or not GL 45A authorizes U.S. persons to provide services to blocked Conviasa aircraft carrying out non-commercial flights between a third country in the Western Hemisphere and Venezuela. FAQ 1143 clarifies the term “non-commercial” as it relates to GL 45A. FAQ 1142 answers whether or not GL 45A authorizes U.S. persons to provide maintenance services to Conviasa aircraft. FAQ 1141 answers whether or not GL 45A authorizes U.S. persons to provide refueling services to Conviasa aircraft that are carrying out flights repatriating Venezuelan nationals. Read more.

Terrorism-related Sanctions

  • OFAC Imposes Further Sanctions Targeting Hamas: OFAC on Nov. 14 imposed its third round of sanctions targeting Hamas-affiliated individuals and entities since the October 7 Hamas terrorist attacks on Israel. OFAC’s action designates key Hamas officials and the mechanisms by which Iran provides support to Hamas and Palestinian Islamic Jihad (PIJ). The designations are coordinated with action by the U.K. and are aimed at protecting the international financial system from abuse by Hamas and their enablers. The U.S. Department of State is concurrently designating a leader of PIJ’s military wing. Read more.

Illicit drug-related Sanctions

  • OFAC Designates Costa Rican Narcotics Trafficker: OFAC on Nov. 15 designated Gilbert Hernan de Los Angeles Bell Fernandez, a Costa Rican narcotics trafficker, known not only for the volume of drugs he moves but the violence with which he operates. Bell has played a significant role in Costa Rica’s recent transformation into a major narcotics transit hub. He was arrested by Costa Rican authorities in 2015 on drug-related charges and has had property seized by Costa Rican authorities in multiple raids, including several boats allegedly used for drug transshipment. Read more.

Tags: Anti-money launderingComplianceOFACSanctions
ShareTweetPin

Related Posts

Terrorism and money laundering aggregates published: April through June 2024

Terrorism and money laundering aggregates published: July through September 2026

Uncategorized
October 5, 2026

As of Sept. 15, 2026, the 314 Program Office has processed 9,403 requests pertinent to the following significant criminal investigations since the program started in late 2002.

Recent news from Treasury’s Office of Foreign Assets Control: April 5

Recent news from Treasury’s Office of Foreign Assets Control: Oct. 5

Uncategorized
October 5, 2026

News items that are the most recent sanctions-related actions from the Office of Foreign Assets Control.

ABA DataBank: Healthcare led job gains in weaker September report

ABA DataBank: Healthcare led job gains in weaker September report

Economy
October 2, 2026

While the unemployment rate remains relatively low, a continued deterioration in labor market conditions could lead to some weakening in overall credit performance in the months ahead.

ABA files amicus brief urging enforcement of notice-and-continued-use amendments

ABA files amicus brief urging enforcement of notice-and-continued-use amendments

Uncategorized
September 30, 2026

ABA and the Mississippi Bankers Association filed a coalition amicus brief urging the Supreme Court of Mississippi to affirm a Mississippi trial court’s order compelling arbitration and hold that banks may amend deposit agreements, including arbitration clauses, through...

Humboldt Merchant Services agrees to pay $12 million to resolve FTC Act allegations

Humboldt Merchant Services agrees to pay $12 million to resolve FTC Act allegations

Uncategorized
September 30, 2026

Humboldt Merchant Services agreed to pay $12 million to resolve allegations that it violated the FTC Act by opening and maintaining payment processing accounts for merchants that were shell companies or engaged in fraud.

Central District of California denies CashCall’s motion to vacate restitution judgment

Central District of California denies CashCall’s motion to vacate restitution judgment

Uncategorized
September 30, 2026

A California federal court denied CashCall’s motion for relief from a post-remand judgment requiring the company to pay more than $134 million in restitution.

NEWSBYTES

HSA Council offers senators recommendations for expanding account access

October 7, 2026

FOMC minutes show another rate increase possible

October 7, 2026

New York Fed: Inflation expectations increased in September

October 7, 2026

SPONSORED CONTENT

The Shift from Demographic Marketing

The Shift from Demographic Marketing

October 1, 2026
Meeting Ag Lending Goals Without Going It Alone

Meeting Ag Lending Goals Without Going It Alone

October 1, 2026
Beyond the Portfolio: The Wealth Manager’s New Role in a Multigenerational World

Beyond the Portfolio: The Wealth Manager’s New Role in a Multigenerational World

September 17, 2026
Banking Technology at a Strategic Crossroads

Banking Technology at a Strategic Crossroads

September 8, 2026

PODCASTS

Podcast: Creating seamless customer experiences

September 30, 2026

Podcast: Telling a different kind of story about community banks

September 28, 2026

Podcast: Making the jump from a high performer to a high-performing leader

September 16, 2026

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2026 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2026 American Bankers Association. All rights reserved.