Recent news from Treasury’s Office of Foreign Assets Control: February 24

The Office of Foreign Assets Control announced the following last week.

Iran-related Sanctions

• Treasury and State impose additional sanctions targeting Iran’s oil sales: OFAC and the State Department imposed sanctions on over 30 persons and vessels for their respective roles brokering the sale and transportation of Iranian petroleum-related products, which fund Iran’s destabilizing activities. The targets included oil brokers in the United Arab Emirates and Hong Kong, tanker operators and managers in India and China, as well as the heads of Iran’s National Iranian Oil Company and the Iranian Oil Terminals Company. Read more.
• FATF advances work combatting proliferation financing, reaffirms countermeasures against Iran: During the plenary, the FATF discussed ongoing work on evolving proliferation financing and terrorist financing risks, financial inclusion, and standards for domestic and cross-border payments, including agreeing to release draft updates for public consultation. Read more.

Congo-related Sanctions

• Treasury sanctions Rwandan minister and senior militant: OFAC imposed sanctions on James Kabarebe, Rwanda’s Minister of State for Regional Integration, and Lawrence Kanyuka Kingston, an M23 and Congo River Alliance senior member for their roles in the ongoing conflict in the Democratic Republic of the Congo. Also designated are UK-based food services company, Kingston Fresh LTD and Paris-based mining consultancy, Kingston Holding. Read more.

Transnational Criminal Organizations Sanctions Regulations

• State Department designates cartels: The State Department designated Tren de Aragua, Mara Salvatrucha (MS-13), Cártel de Sinaloa, Cártel de Jalisco Nueva Generación, Cártel del Noreste (formerly Los Zetas), La Nueva Familia Michoacana, Cártel de Golfo (Gulf Cartel), and Cárteles Unidos as Foreign Terrorist Organizations (FTOs) and Specially Designated Global Terrorists (SDGTs). Seven of these eight transnational criminal organizations had previously been designated by OFAC under other programs. Read more.