The Treasury Department’s Office of Foreign Assets Control today announced new sanctions to target illicit oil smuggling by Iran. In addition, the Financial Crimes Enforcement Network announced it was easing a fentanyl-related order against a Mexican bank to allow the dissolution of the institution.
OFAC has sanctioned more than two dozen individuals, companies, and vessels operating within the network of Iranian oil shipping magnate Mohammad Hossein Shamkhani, according to an announcement. The agency also said it is designating Iranian national and Lebanese Hizballah-financier Seyed Naiemaei Badroddin Moosavi and three companies linked to an alleged money laundering scheme involving the sale of Iranian oil in exchange for Venezuelan gold.
As for FinCEN, the agency last year issued an order identifying three Mexico-based financial institutions as being of primary money laundering concern in connection with illicit opioid trafficking: CIBanco S.A., Institution de Banca Multiple (CIBanco); Intercam Banco S.A., Institución de Banca Multiple (Intercam); and Vector Casa de Bolsa, S.A. de C.V. (Vector). FinCEN said today it has amended the CIBanco S.A. order to permit certain fund transmittals required for the liquidation of the bank.
