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Recent news from Treasury’s Office of Foreign Assets Control: June 14

June 14, 2024
Reading Time: 4 mins read
Recent news from Treasury’s Office of Foreign Assets Control: April 5

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

SDN List Updates

  • OFAC Adds Nordic Resistance Movement to SDN List: OFAC on June 14 added the Nordic Resistance Movement to its Specially Designated Nationals List and added members of the group, Leif Robert Eklund, Par Oberg and Tor Fredrik Vejdeland. Read more.
  • OFAC Amends FAQs Related to Humanitarian Aid in Iran and Syria: OFAC on June 14 issued three amended Frequently Asked Questions 828, 867, and 884. The FAQs relate to humanitarian aid in Iran and Syria while remaining compliant to U.S. sanctions. Read more.
  • OFAC Adds Tzav 9 to SDN List: OFAC on June 14 added Tzav 9 to its Specially Designated Nationals List. OFAC’s action is in response to the Department of State’s designation of Tzav 9, a violent extremist Israeli group that has been blocking, harassing, and damaging convoys carrying lifesaving humanitarian assistance to Palestinian civilians in Gaza. Read more.

Russia-related Sanctions

  • U.S. Departments of the Treasury and State Sanction Russia’s Foundational Financial Infrastructure and Access to Third Country Support: The U.S. Department of the Treasury issued new measures guided by G7 commitments to intensify the pressure on Russia for its continued war against Ukraine. OFAC’s actions ratchet up the risk of secondary sanctions for foreign financial institutions that deal with Russia’s war economy; restrict the ability of Russian military-industrial base to take advantage of certain U.S. software and information technology services; and, together with the Department of State, target more than 300 individuals and entities both in Russia and outside its borders—including in Asia, the Middle East, Europe, Africa, Central Asia, and the Caribbean—whose products and services enable Russia to sustain its war effort and evade sanctions.
  • Related to this action, OFAC updated the Specially Designated Nationals and Blocked Persons List information for five sanctioned Russian financial institutions, to include the addresses and aliases of their foreign locations. Specifically, OFAC updated the listings for Promsvyazbank Public Joint Stock Company to include its locations in Beijing, People’s Republic of China, Bishkek, Kyrgyz Republic, and New Delhi, India; for State Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank to include its locations in Beijing, PRC and Mumbai, India; for Sberbank to include its locations in Beijing, PRC and New Delhi and Mumbai, India; for VTB to include its locations in New Delhi, India, and Beijing and Shanghai, PRC; and for VTB Capital Holdings Closed Joint Stock Company to include its location in Hong Kong, PRC. Read more. OFAC also issued Determination Pursuant to Section 1 (a)(ii) of Executive Order 14071, Russia-related General Licenses, issued new and amended FAQs, and published an updated Compliance Advisory.

Terrorism-related Sanctions

  • OFAC Targets Houthi Network in China and Oman: OFAC on June 17 designated individuals and entities that facilitated weapons procurement for Ansarallah, commonly referred to as the Houthis. OFAC designated China-based Houthi-affiliated individual Ali Abd-al-Wahhab Muhammad al-Wazir for procuring materials that enable Houthi forces to manufacture advanced conventional weapons inside Yemen. Also designated are China-based company, Guangzhou Tasneem Trading Company Limited (Guangzhou Tasneem), and Hong Kong-based Tasneem Trading Company Limited, the parent company of Guangzhou Tasneem. Also designated are Ningbo Beilun Saige Machine Co., Ltd. and Dongguan Yuze Machining Tools Company Limited. In Oman, OFAC designated International Smart Digital Interface Limited Liability Company and its operator, Muaadh Ahmed Mohammed al-Haifi. Finally. OFAC identified a vessel, the Cameroon-flagged OTARIA, which is managed by UAE-based Stellar Wave Marine L.L.C. OFAC’s action targets key actors who have enabled the Houthis to generate revenue and acquire a range of materials to manufacture the advanced weaponry they are now using to conduct ongoing terrorist attacks against commercial ships. Read more.
  • OFAC Sanctions Individuals Linked to ISIS Human Smuggling Network: The United States, in coordination with the government of Türkiye imposed sanctions on four individuals with links to the Islamic State of Iraq and Syria (ISIS), including members of an ISIS-linked human smuggling network. OFAC designated Uzbekistan-based Olimkhon Makhmudjon Ugli Ismailov and its supporter, Muhammad Ibrohimjon Niyazov. Also designated are Muhammadyusuf Alisher Ogli Mirzoev, who in mid-2023 was involved in work to establish an ISIS militant training camp. The Department of State designated Adam Khamirzaev, the ISIS Georgia Province emir. Khamirzaev provided guidance to this smuggling network on activities in support of ISIS. The government of Türkiye is concurrently taking its own domestic action against this network. Read more.

Corruption and Human Rights Abuse Designations

  • OFAC Sanctions Guyana’s Wealthiest Families for Roles in Corruption and Humans Rights Abuse: OFAC on June 11 sanctioned members of one of Guyana’s wealthiest families, Nazar Mohamed (Nazar) and his son, Azruddin Mohamed (Azruddin), their company, Mohamed’s Enterprise, and a Guyanese government official, Mae Thomas (Thomas), for their roles in public corruption in Guyana. Additionally, OFAC designated two other entities, Hadi’s World and Team Mohamed’s Racing Team, for being owned or controlled by Mohamed’s Enterprise and Azruddin, respectively. These individuals and entities are sanctioned pursuant to Executive Order 13818, which builds upon and implements the Global Magnitsky Human Rights Accountability Act and targets perpetrators of serious human rights abuse and corruption around the world. Read more.

Tags: Anti-money launderingComplianceOFACSanctions
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