The Office of Foreign Assets Control announced the following sanctions action last week.
Iran-related Sanctions
- OFAC sanctions Houthi network procuring weapons and commodities from Russia: OFAC on April 2 sanctioned a network of Houthi financial facilitators and procurement operatives working in coordination with Sa’id al-Jamal, a senior Houthi financial official backed by Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF). This designated network has procured tens of millions of dollars’ worth of commodities from Russia, including weapons and sensitive goods, as well as stolen Ukrainian grain, for onward shipment to Houthi-controlled Yemen. Additionally, OFAC has identified eight digital asset wallets used by the Houthis to transfer funds associated with their activities. The designees are Russia-based Afghan businessman Hushang Ghairat (Hushang) and his brother, Russia-based Afghan businessman Sohrab Ghairat (Sohrab); Russian nationals Vyacheslav Vladimirovich Vidanov and Yuri Vladimirovich Belyakov; Turkiye-based Iranian money launderer Hassan Jafari; Hong Kong-based entity, AM Asia M6 Ltd; Russian vessel, AM THESEUS, and Russia-based companies LLC Sky Frame, LLC Edison, and LLC Kolibri Group. Read more.
- OFAC and Justice Department target Iranian weapons procurement network: The U.S. Department of the Treasury’s Office of Foreign Assets Control and the U.S. Department of Justice took action against a network of six entities and two individuals based in Iran, the United Arab Emirates (UAE), and the People’s Republic of China (PRC) responsible for the procurement of unmanned aerial vehicle (UAV) components on behalf of Iran-based Qods Aviation Industries (QAI)—a leading manufacturer for Iran’s UAV program, and criminally charged Iranian individuals and a company for providing material support to IRGC. This designated network has also facilitated procurement for other entities in Iran’s military-industrial complex, to include Iran Aircraft Manufacturing Industrial Company (HESA) and Shahid Bakeri Industrial Group (SBIG). OFAC’s action marks the second round of sanctions targeting Iranian weapons proliferators since the President issued National Security Presidential Memorandum 2 on Feb. 4, 2025, ordering a campaign of maximum pressure on Iran. Read more.
Foreign Terrorist Organization Sanctions
- OFAC designates Sinaloa Cartel’s money laundering network: OFAC on March 31 designated six individuals and seven entities involved in a money laundering network supporting the Sinaloa Cartel, one of the most notorious and violent drug trafficking organizations in the world, and a U.S.-designated Foreign Terrorist Organization (FTO). OFAC’s action is the culmination of a coordinated investigation by the U.S. Attorney’s Office for the Southern District of California, the Drug Enforcement Administration, the Federal Bureau of Investigation, Internal Revenue Service – Criminal Investigations, Homeland Security Investigations, and the Government of Mexico, including the Unidad de Inteligencia Financiera, Mexico’s Financial Intelligence Unit. FinCEN issued an alert urging financial institutions to be vigilant to bulk cash smuggling and repatriation by Mexico-based transnational criminal organizations. Read more.
ADVERTISEMENT
