Recent news from Treasury’s Office of Foreign Assets Control: October 11

The Office of Foreign Assets Control took sanctions action over the last week in the Russia, Iran and Sudan programs:

Russia-related Sanctions

• OFAC General License No. 99A Expiration: GL 99A authorizing the wind down of Transactions and Certain Transactions Related to Debt or Equity of, or Derivative Contracts Involving the Moscow Exchange (MOEX), National Clearing Center (NCC), or Non-Bank Credit Institution Joint Stock Company National Settlement Depository (NSD) expired on Oct. 12, 2024. On October 10, OFAC issued FAQ 1197 clarifying the requirement to block and report securities held at NSD that were transferred to another Russian registrar pursuant to Russian Decree 840. Read more.
• OFAC Issues New FAQ 1197 on Securities Held by a U.S. Person: OFAC on Oct. 10 issued new Russia-related Frequently Asked Question 1197 to answer a question on a U.S. person with securities held at the National Settlement Depository, which were transferred pursuant to Russian Decree 840 to another Russian registrar. Read more.

Iran-related Sanctions

• OFAC Publishes Iran-related Determination: OFAC on Oct. 11 issued a Determination pursuant to Section 1(a)(i) of Executive Order 13902, “Petroleum and Petrochemical Sectors of the Iranian Economy.” Persons operating in these sectors will be subjection to sanctions pursuant to section 1(a)(i). Read more.

Sudan-related Sanctions

• OFAC Sanctions Sudanese Rapid Support Forces Procurement Director: OFAC on Oct. 8 sanctioned Algoney Hamdan Daglo Musa, pursuant to Executive Order 14098, “Imposing Sanctions on Certain Persons Destabilizing Sudan and Undermining the Goal of a Democratic Transition,” for leading efforts to supply weapons to continue the war in Sudan. The war between the Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF) has caused immense devastation, leaving tens of thousands dead, more than 11 million displaced, and millions facing emergency levels of hunger. The designee, Algoney is the procurement director of the RSF and a brother of Mohammed Hamdan Daglo (Hemedti), the leader of the RSF. Algoney has extended this war by leading RSF efforts to procure weapons and military materiel. By arming the RSF, his actions have directly contributed to the RSF’s ongoing siege of El Fasher in North Darfur, a city of nearly two million vulnerable civilians, and the RSF’s operations elsewhere in Sudan.
  Read more.