The Office of Foreign Assets Control announced the following sanctions action last week.
Russia-related Sanctions
OFAC issues Russia-related General License 131B: OFAC on Jan. 14 issued General License 131B, authorizing certain transactions related to negotiating and entering into contingent contracts for the sale of Lukoil International GmbH, as well as related maintenance activities. OFAC also published updated guidance in amended FAQs 1224 and 1225. Read more.
Iran and Terrorist-related Sanctions
OFAC targets Iranian officials and shadow banking networks: In response to the Iranian regime’s violent crackdown on recent protests, OFAC on Jan. 15 announced sanctions targeting key regime figures and the shadow banking networks that help Iran’s elite divert and launder revenue from the country’s natural resources. Designations include Ali Larijani, Secretary of the Supreme Council for National Security, along with 18 individuals and entities involved in laundering proceeds from Iranian petroleum and petrochemical sales through clandestine networks tied to Bank Melli and Shahr Bank. Read more.
OFAC targets networks supporting Iran-backed Houthis: OFAC on Jan. 16 designated 21 individuals and entities and identified one vessel involved in transferring oil products, procuring weapons and dual-use equipment, and providing financial services for Ansarallah (the Houthis). This action targets financial channels between the Iranian government and the Houthis, further constricting Iran’s ability to use oil revenue to fund regional terrorist proxies. OFAC also designated key front companies, facilitators, and operatives in Yemen, Oman, and the United Arab Emirates, all connected to the Houthis’ revenue-generation and smuggling networks that enable destabilizing activities and attacks on commercial vessels in the Red Sea. Read more.
Foreign Terrorist Organization Sanctions
OFAC and State Department designate Muslim Brotherhood branches: On Jan. 13, OFAC designated the Egyptian and Jordanian branches of the Muslim Brotherhood as Specially Designated Global Terrorists under Executive Order 13224, as amended, for providing material support to Hamas. In a concurrent action, the Department of State designated the Lebanese Muslim Brotherhood (al-Jamaa al-Islamiyah) as both a Foreign Terrorist Organization and a Specially Designated Global Terrorist. The State Department also designated the group’s Secretary General, Muhammad Fawzi Taqqosh, under E.O. 13224. Read more.
