The Office of Foreign Assets Control announced the following sanctions action last week.
Enforcement Action
- OFAC announces settlement with Texas-based company for violations of Iran and Venezuela sanctions: OFAC on June 16 announced a $3,882,797 settlement with Unicat Catalyst Technologies, LLC. Unicat, an Alvin, Texas-based company that sells catalyst products, has agreed to settle its potential civil liability for 13 apparent violations of the Iranian Transactions and Sanctions Regulations, and one apparent violation of the Venezuela Sanctions Regulations that arose from its provision of catalyst products and consulting services to Iran and its sale of catalysts to a blocked Venezuelan entity. The settlement amount reflects OFAC’s determination that Unicat’s conduct was voluntarily self-disclosed and constituted an egregious case. Read more.
Russia-related Sanctions
- OFAC issues General License 55D: OFAC on June 18 issued Russia-related General License 55D to authorize certain services related to Sakhalin-2 through Dec. 19, 2025. This General License replaces and supersedes General License No. 55C, dated Nov. 21, 2024. Read more.
Iran-related Sanctions
- OFAC targets network supporting Iran’s defense industry: OFAC on June 20 designated one individual, eight entities, and identified one vessel as blocked property, for their involvement in the procurement and transshipment of sensitive machinery for the Iranian regime. The vessel, Shun Kai Xing, owned by Hong Kong-based Unico Shipping Co Ltd, carried machinery for OFAC-designated Rayan Roshd Afzar Company (RRA) and Towse Sanaye Nim Resanaye Tarashe, a company controlled by RRA executives. The designated individual is Chinese national Zhang Yanbang, shipmaster of Shun Kai Xing. The designated entities are Futech Co Limited, Unico Shipping Co Ltd, Athena Shipping Co Ltd, Zhang Yanbing, Dongguan Zanyin Machinery and Equipment Co Ltd, V-Shipping Pte Ltd, Shenzhen Xinxin Shipping Co Ltd, and Edisa Dis Ticaret Limited Sirketi.
- OFAC’s action is being taken in furtherance of National Security Presidential Memorandum-2, which directs that Iran be denied the development of missiles and other weapons capabilities and that the Islamic Revolutionary Guard Corps (IRGC) and its surrogates be disrupted, degraded, or denied access to the resources that sustain their destabilizing activities. Read more.
- OFAC sanctions Houthi network involved in oil trading and shipping: OFAC on June 20 sanctioned four individuals, 12 entities and two vessels for their roles in importing oil and other illicit goods in support of the terrorist group and Iran-backed Ansarallah, commonly known as the Houthis. The designees include Houthi front companies, their owners, and other key Houthi operatives that generate significant revenue for the group through the sale of oil and other commodities on Yemen’s black market and by engaging in smuggling operations through Houthi-controlled ports. As part of this action, Treasury is also targeting two vessels, their owners and operators, which violated U.S. sanctions by discharging oil derivatives to the Houthis. Read more.
Venezuela-related Sanctions
- OFAC issues General License 5S: OFAC on June 20 issued Venezuela General License 5S to authorize certain transactions related to the Petróleos de Venezuela, S.A. This General License replaces and supersedes General License No. 5R. Read more.
Foreign Terrorist Organization Sanctions
- OFAC sanctions CJNG leaders: OFAC on June 18 sanctioned five Mexico-based leaders of Cartel de Jalisco Nueva Generacion (CJNG). OFAC designated CJNG’s notorious leader Ruben Oseguera Cervantes (a.k.a “El Mencho”), along with three other senior cartel members—Julio Alberto Castillo Rodriguez, Gonzalo Mendoza Gaytan and Audias Flores Silva. OFAC also sanctioned CJNG commander Ricardo Ruiz Velasco, closely linked to El Mencho, who has been identified as the prime suspect in the recent murder of social media influencer Valeria Marquez. Read more.
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