The Office of Foreign Assets Control announced the following sanctions action last week.
Iran-related Sanctions
Treasury targets Iran sanctions-evasion network under Operation Economic Outcast: The Treasury Department sanctioned a Panama- and Greece-based law firm, shipping agents and cargo vessels for supporting Iranian shipping and sanctions-evasion activity as part of Operation Economic Outcast. Treasury said the action targets networks helping Iran generate revenue and access the global financial system, while FinCEN is coordinating with European partners to investigate financial institutions’ potential ties to Iran and its proxies. Read more.
Iran-related and Russia-related Sanctions
OFAC issues Iran- and Russia-related general licenses: OFAC issued two Iran-related general licenses authorizing certain wind-down and other limited transactions involving recently blocked persons and vessels, as well as a Russia-related general license authorizing certain transactions involving the potential sale of Lukoil International GmbH. OFAC also amended two Russia-related FAQs and updated its Specially Designated Nationals and Blocked Persons List. Read more.
