The Office of Foreign Assets Control took sanctions action over the last week in the Russia and illicit drug-related programs:
- OFAC Imposes Sanctions on Entities Involved in Price Cap Violation and Implements G7 Ban on Russian Diamonds: OFAC on Feb. 8 took imposed sanctions on four entities and identified a vessel for their roles in a price cap violation scheme in late 2023. The entities are Zeenit Supply and Trading DMCC, Talassa Shipping DMCC, NS Leader Shipping Incorporated and Oil Tankers SCF Mgmt FZCO. OFAC identified the vessel, NS Leader as blocked property. Related to this action, OFAC issued two new determinations that implement G7 commitments to ban the importation of Russian diamonds. See Prohibitions Related to Imports of Diamond Jewelry and Unsorted Diamonds of Russian Federation Origin and Diamond Jewelry and Unsorted Diamonds Exported From the Russian Federation, and a Determination for Prohibitions Related to Imports of Certain Categories of Diamonds.
- OFAC issued Russia-related General License 87 to authorize through May 8, 2024 transactions prohibited by Executive Order 14024.
Illicit Drug-related Sanctions
- OFAC Sanctions Ecuadorian Gang and its Leader: OFAC on Feb. 7 sanctioned one of Ecuador’s most violent gangs, Los Choneros, and its leader, José Adolfo Macías Villamar (also known by the alias “Fito”), pursuant to counter narcotics program. OFAC’s action follows a steep rise in violence in Ecuador attributed to the actions of Los Choneros and other drug trafficking gangs in the country. Read more.