The Office of Foreign Assets Control took significant sanctions actions over the last week in the Russia and Iran programs:
Russia-related Sanctions
- OFAC Removes VTB Bank from its SDN List: OFAC on April 2 removed VTB Bank Europe SE, formerly known as Ost-West Handelsbank AG and VTB Bank Deutschland AG from its Specially Designated Nationals List. The bank was previously designated pursuant to Executive Order 14024, Blocking Property With Respect To Specified Harmful Foreign Activities of the Government of the Russian Federation. Read more.
Iran-related Sanctions
- OFAC Targets Network Facilitating Shipments for Iranian Military: OFAC on April 4 designated Oceanlink Maritime DMCC for facilitating the shipment of Iranian commodities on behalf of Iran’s Armed Forces General Staff (AFGS) and Ministry of Defense and Armed Forces Logistics (MODAFL). OFAC also identified 13 vessels managed by Oceanlink Maritime DMCC as blocked property. The Oceanlink Maritime DMCC-managed vessel HECATE recently loaded Iranian commodities valued at over $100 million dollars via a ship-to-ship transfer from another sanctioned tanker, the DOVER, on behalf of OFAC-sanctioned Sepehr Energy Jahan Nama Pars, for its role selling Iranian commodities for the AFGS and MODAFL. As a result of this action, OFAC updated the Specially Designated Nationals and Blocked Persons List to reflect that the name of OFAC-sanctioned vessel YOUNG YONG (IMO: 9194127) has been changed to the SAINT LIGHT, which is also operating under the name STELLAR ORACLE, which conducted a ship-to-ship transfer on March 27, 2024 with a sanctioned vessel operated by the National Iranian Tanker Company, the HAWK (IMO: 9362061). Read more.
