The Office of Foreign Assets Control took a number of significant sanctions actions over the last week across multiple programs:
Russia-related Sanctions
- U.S. Targets Hundreds of Individuals and Entities Supporting Russia: The U.S. Department of the Treasury and the Department of State on Aug. 23 targeted nearly 400 individuals and entities both in Russia and outside its borders—including in Asia, Europe, and the Middle East—whose products and services enable Russia to sustain its war effort and evade sanctions. Treasury targeted numerous transnational networks, including those involved in procuring ammunition and military materiel for Russia and financial technology companies that provide necessary software and IT solutions for Russia’s financial sector. Concurrently, the State Department targeted entities and individuals involved in Russia’s future energy, metals, and mining production and exports; sanctions evasion; Russia’s military-industrial base, including armed unmanned aerial vehicle (UAV) production, Belarusian support for Russia’s war effort, and air logistics entities; additional subsidiaries of State Atomic Energy Corporation Rosatom; and malign actors involved in the attempted, forcible “re-education” of Ukraine’s children. Read more.
- Related to this action, OFAC issued Russia-related General License 103 – “Authorizing Transactions Related to Imports of Certain Diamond Jewelry Prohibited by Executive Order 14068;” Russia-related General License 104 – “Authorizing Transactions Related to Imports of Certain Diamonds Prohibited by Executive Order 14068;” Russia-related General License 105 – “Authorizing Limited Safety and Environmental Transactions and the Unloading of Cargo Involving Certain Blocked Persons or Vessels;” Russia-related General License 106 – “Authorizing the Wind Down of Transactions Involving Certain Entities Blocked on August 23, 2024;” and Russia-related General License 107 – “Authorizing Limited Safety and Environmental Transactions Involving Certain Blocked Persons or Vessels.” Additionally, OFAC issued new, Russia-related Frequently Asked Question 1189 and two amended, Russia-related Frequently Asked Questions 1165 and 1166. Read more.
Burma, Sudan and Ukraine-/Russia Related Sanctions
- OFAC Adds a General License to Burma Sanctions Regulations and Corrects References in Sudan Stabilization and Ukraine-/Russia-Related Sanctions Regulations: OFAC on Aug. 21 published a final rule to update terminology and references across several sanctions programs’ regulations, and added a general license to the Burma Sanctions Regulations to authorize the provision of agricultural commodities, medicine, medical devices, replacement parts and components for medical devices, or software updates for medical devices to individuals whose property and interests in property are blocked pursuant to the Burma Sanctions Regulations. These regulatory amendments took effect on Aug. 21, 2024. Read more.
Illicit Drug-related Sanctions
- OFAC Sanctions Former Haiti President: OFAC on Aug. 20 sanctioned the former President of Haiti, Michel Joseph Martelly, pursuant to Executive Order 14059 of December 15, 2021, “Imposing Sanctions on Foreign Persons Involved in the Global Illicit Drug Trade.” Martelly was sanctioned pursuant to E.O. 14059 for his role in facilitating the trafficking of dangerous drugs, including cocaine, destined for the United States. Additionally, Martelly engaged in the laundering of illicit drug proceeds, worked with Haitian drug traffickers, and sponsored multiple Haiti-based gangs. Martelly was previously sanctioned by the Government of Canada on Nov. 17, 2022. OFAC’s action prohibits: U.S. financial institutions from making loans or providing credit to Martelly; any transactions in foreign exchange that are subject to the jurisdiction of the United States and in which Martelly has any interest; and U.S. persons from investing in or purchasing significant amounts of equity or debt instruments to Martelly. Read more.
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