The Office of Foreign Assets Control announced the following sanctions action last week.
Enforcement Action
- OFAC announces settlement with Key Holding, LLC: OFAC on July 2 announced a $608,825 settlement with Key Holding, LLC for 36 apparent violations of OFAC sanctions on Cuba that arose from the conduct of a Key Holding subsidiary in Colombia that managed the logistics for freight shipments to Cuba. The settlement amount reflects OFAC’s determination that the apparent violations were non-egregious and voluntarily self-disclosed. Read more.
International Criminal Court-related Sanctions
- OFAC implements E.O. 14203: OFAC on June 30 published regulations to implement Executive Order 14203 of Feb. 26, 2025, “Imposing Sanctions on the International Criminal Court .” These regulations are currently available for public inspection with the Federal Register and took effect upon publication in the Federal Register on July 1, 2025.
Iran-related Sanctions
- OFAC sanctions networks facilitating Iranian oil trade: OFAC on July 3 sanctioned networks that have collectively transported and purchased billions of dollars’ worth of Iranian oil. Among the entities sanctioned is a network of companies run by Iraqi businessman Salim Ahmed Said that has profited from smuggling Iranian oil disguised as, or blended with, Iraqi oil. Treasury is also sanctioning several vessels engaged in the covert delivery of Iranian oil, intensifying pressure on Iran’s “shadow fleet.” Read more.
Terrorism-related Sanctions
- OFAC sanctions Hizballah officials: OFAC on July 3 sanctioned seven senior officials and one entity associated with the Hizballah-controlled financial institution Al-Qard Al-Hassan (AQAH), which was designated by OFAC in 2007. These officials have served in senior management roles for AQAH and have facilitated the evasion of U.S. sanctions, enabling Hizballah’s access to the financial system. OFAC’s action underscores Treasury’s commitment to disrupting Hizballah’s sanctions evasion schemes and supporting efforts by the new Lebanese government to limit the terrorist group’s influence, particularly as entities like AQAH continue to undermine the already fragile Lebanese economy. Read more.
Syria-related Sanctions
- OFAC implements termination of Syria sanctions: OFAC on June 30 implemented the President’s termination of Syria sanctions. As a result, OFAC removed 518 individuals and entities from the List of Specially Designated Nationals and Blocked Persons (SDN List) sanctioned under the Syria sanctions program, lifting sanctions on individuals and entities critical to Syria’s development, the operation of its government, and the rebuilding of the country’s social fabric. OFAC also designated 139 individuals and entities affiliated with the previous regime under E.O. 13894, as further amended, as well as other Iran and Counter Terrorism authorities, ensuring continued accountability for the former al-Assad regime and its abuses. Read more. Read Treasury Secretary Scott Bessent’s remarks on the termination of Syria sanctions.
- Related to this action, OFAC issued four new Syria Frequently Asked Questions 1220-1223. OFAC previously issued Syria General License 25, which authorizes transactions otherwise prohibited by the Syrian Sanctions Regulations, 31 CFR part 542. To the extent still necessary, persons may continue to rely on GL 25 and the related Syria GL 25 Fact Sheet, which OFAC originally issued on May 28, 2025.
- Accordingly, the OFAC Syria-related sanctions program has become the Promoting Accountability for Assad and Regional Stabilization Sanctions (PAARSS) program.
Venezuela-related Sanctions
- OFAC issues General License 40D: OFAC on July 7 issued Venezuela-related General License 40D, “Authorizing the Offloading of Liquefied Petroleum Gas in Venezuela.” GL 40D authorizes the offloading of liquefied petroleum gas in Venezuela through 12:01 a.m. eastern daylight time, Sept. 5, 2025, provided the liquified petroleum gas was loaded on a vessel on or before July 7, 2025. Read more.
Cyber-related Sanctions
- OFAC sanctions BPH services provider: OFAC on July 1 designated Aeza Group, a bulletproof hosting (BPH) services provider, for its role in supporting cybercriminal activity targeting victims in the United States and around the world. BPH service providers sell access to specialized servers and other computer infrastructure designed to help cybercriminals like ransomware actors, those who steal personal information, and drug vendors evade detection and resist law enforcement attempts to disrupt their malicious activities. OFAC also designated two affiliated companies and four individuals who are Aeza Group leaders. Finally, in coordination with the United Kingdom’s National Crime Agency (NCA), OFAC designated an Aeza Group front company in the UK. Read more.
