The Office of Foreign Assets Control announced the following sanctions action last week.
Russia-related Sanctions
OFAC removes Turkey‑based entities from SDN List: On June 29, OFAC removed several Turkey‑based companies and associated individuals from the SDN List that had been designated under Russia‑related sanctions authorities, including firms operating in the machine tools and manufacturing sectors. The deletions also include individuals linked to these entities, previously identified as posing secondary sanctions risk under Executive Order 14024. Read more.
OFAC issues updated Russia‑related general license for Lukoil transactions: On June 25, OFAC issued Russia‑related General License 131G, authorizing certain transactions related to the negotiation and entry into contingent contracts for the sale of Lukoil International GmbH, along with related maintenance activities. OFAC also updated FAQs 1224 and 1225 and made updates to the Specially Designated Nationals (SDN) List. Read more.
OFAC removes multiple Russia‑related designees from SDN List: On June 24, OFAC removed numerous individuals, entities, and vessels from the SDN List that had been designated under Russia‑related sanctions authorities, including persons linked to Russian financial institutions such as Bank Otkritie and Sovcombank. The deletions also include a Turkey‑based company and Russia‑flagged vessels previously subject to secondary sanctions risk under Executive Order 14024. Read more.
Congo-related Sanctions
OFAC targets illicit mineral smuggling network in DRC: On June 25, OFAC sanctioned a network working with the Rwanda‑backed M23 armed group to smuggle minerals from eastern Democratic Republic of the Congo into Rwanda. The action targets illicit mineral trade activity that fuels conflict, human rights abuses, and regional instability. It also supports the U.S.-brokered Washington Accords and efforts to strengthen transparency and economic integration across critical minerals supply chains. Read more.
Sudan-related Sanctions
OFAC targets Sudan conflict support networks: On June 26, OFAC sanctioned eight individuals and entities tied to procurement and recruitment networks fueling Sudan’s civil war between the Sudanese Armed Forces (SAF) and the paramilitary group, the Rapid Support Forces (RSF). The action targets efforts that have intensified the conflict and contributed to a severe humanitarian crisis and regional instability. This action was taken pursuant to Executive Order 14098, which addresses those destabilizing Sudan and undermining a democratic transition. Read more.
Foreign Terrorist Organization Sanctions
OFAC targets ISIS financial facilitators across multiple regions: On June 22, OFAC designated three individuals and six entities across Europe, the Middle East, and West Africa for facilitating financial transactions on behalf of ISIS and its regional affiliates. The action targets key money service businesses and intermediaries used to move funds globally, including Bitcoin Xchange (Syria‑based MSB), Spider Gayrimenkul Ve Genel Ticaret Limited Sirketi (Türkiye‑based MSB), and Alkaram Danismanlik Gayrimenkul Ic Ve Dis Genel Ticaret Limited Sirketi, which operated as financial conduits and hawala‑type networks for ISIS. The action was taken under counterterrorism authority Executive Order 13224, as amended, to disrupt ISIS’s decentralized financing capabilities and global operations. Read more.
Transnational Criminal Organization Sanctions
OFAC enhances UK coordination and issues new General License: OFAC highlighted expanded cooperation with the United Kingdom’s Office of Financial Sanctions Implementation (OFSI) and jointly released guidance to help the private sector navigate key aspects of U.S. and UK sanctions regimes. OFAC also issued TCO General License 2, authorizing the wind down of transactions involving CCU Commercial Bank Plc, and updated the Specially Designated Nationals (SDN) List. Read more.
Cyber-related Sanctions
Treasury targets Prince Group Cybercrime network and expands FinCEN action: On June 23, Treasury sanctioned nine individuals and 26 entities tied to the Prince Group Transnational Criminal Organization for operating scam compounds and laundering proceeds from global fraud schemes targeting U.S. victims. FinCEN proposed expanding restrictions on Huione Group affiliates to prevent continued misuse of the financial system to move illicit funds. The coordinated action, taken under authorities targeting transnational criminal organizations, aims to disrupt large‑scale cyber‑enabled fraud and money laundering networks. Read more.
