The Office of Foreign Assets Control announced the following sanctions action last week.
Burma, North Korea and Russia-related Sanctions
OFAC removes sanctioned parties and updates listing: On July 24, OFAC removed several individuals and entities from its Specially Designated Nationals (SDN) List. The removals were related to prior designations under Executive Orders 14014 (Burma) and 13722 (North Korea). Additionally, OFAC updated the listing for Hong Kong-based Izzition E-Technology Co., Limited, originally designated under Executive Order 14024 targeting harmful foreign activities of the Russian government. Read more.
OFAC sanctions North Korean IT network supporting weapons programs: On July 24, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Korea Sobaeksu Trading Company and three individuals for helping fund North Korea’s weapons programs through illicit IT operations. The sanctioned individuals—Kim Se Un, Jo Kyong Hun, and Myong Chol Min—were involved in schemes that used fraudulent identities and documents to place North Korean IT workers in legitimate companies, including in the U.S. These workers have also been linked to malware deployment and data theft.
This action, coordinated with the Departments of Justice, Homeland Security, State, the FBI, and Homeland Security Investigations, is part of a broader effort to disrupt North Korea’s global revenue-generating activities in violation of U.S. and UN sanctions. Read more.
Terrorism-related Sanctions
OFAC targets Houthi revenue network tied to illicit petroleum trade: On July 22, OFAC designated two individuals and five entities involved in laundering money and importing petroleum products into Houthi-controlled areas of Yemen. The individuals—Muhammad Al-Sunaydar and Yahya Mohammed Al Wazir—facilitated financial operations that support the Iran-backed Houthis.
The designated entities are:
- Arkan Mars Petroleum Company for Oil Products Imports
- Arkan Mars Petroleum DMCC
- Arkan Mars Petroleum FZE
- Al-Saida Stone for Trading and Agencies
- Amran Cement Factory
These actors help the Houthis generate hundreds of millions of dollars annually through petroleum import taxes, funding destabilizing activities in the region. Read more.
