Tag Archives: Specially Designated Nationals

Trump Administration Authorizes Sanctions on Turkey

Responding to Turkey’s actions in Syria, President Trump issued an Executive Order (EO) blocking property and suspending entry of certain persons contributing to the situation in Syria. Pursuant to the EO, OFAC added three Turkish government officials and two Turkish government agencies, the Ministry of National Defence and the Ministry of Energy and Natural Resources, to the Specially Designated Nationals (SDN) … Continue Reading

US Adds Huawei and Affiliates to the Department of Commerce Entity List – What to Expect From the Final Rule

On May 21, 2019 the US Commerce Department, Bureau of Industry and Security (BIS) is expected to publish in the Federal Register a Final Rule designating Huawei Technologies Co., Ltd. (Huawei) and 68 affiliated Huawei entities located in 26 countries (collectively, the “Huawei Listed Companies”) to the Entity List. … Continue Reading

OFAC and JPMorgan Chase Bank Agree on Settlement

On October 5, 2018, the US Department of the Treasury, Office of Foreign Assets Control (OFAC) announced an agreement with JPMorgan Chase Bank, N.A. (JPMC) to settle potential civil liability arising from 87 apparent violations of the Cuban Assets Control Regulations, the Iranian Transactions and Sanctions Regulations, and the Weapons of Mass Destruction Proliferators Sanctions Regulations. According to OFAC, “the transactions … Continue Reading

Trump Administration Permanently Lifts Sudan Sanctions

  Sudan Sanctions In 1997, the US imposed a comprehensive trade and investment embargo against Sudan. In January 2017, i.e., in the closing days of the Obama Administration, President Obama announced a six-month suspension of US economic sanctions, citing ongoing dialogue with the Sudanese government and the government’s progress in achieving milestones agreed upon in those negotiations. Specifically, the Obama Administration … Continue Reading

US Treasury Department Proposes Financial Sanctions Against Chinese Bank to Address North Korea Concerns

On 29 June 2017, the US Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a proposed rule that would designate China’s Bank of Dandong to be a foreign financial institution of primary money laundering concern under Section 311 of the USA PATRIOT Act. The measure responds to findings that the bank used the US financial system to facilitate millions of dollars … Continue Reading

US Commerce and Treasury Departments Add to Lists of Sanctioned Entities Under Russia-/Ukraine-Related Programmes

In June 2017, the Office of Foreign Assets Control (OFAC) and the US Commerce Department’s Bureau of Industry and Security (BIS) imposed coordinated sanctions against two entities from the Crimea Region of Ukraine and eight entities from Russia. OFAC added each entity to the OFAC List of Specially Designated Nationals (SDN List) and Block Persons under the executive orders implemented … Continue Reading

US Sanctions Persons Connected to Iran’s Ballistic Missile Programme

On 17 May 2017, the US Treasury Department’s Office of Foreign Assets Control (OFAC) designated for sanctions seven persons connected to Iran’s ballistic missile programme. Among those targeted by the sanctions are two senior Iranian defense officials, including the Deputy Director for Commerce of Iran’s Defense Industries Organization, Morteza Farasatpour. Farasatpour was responsible for coordinating … Continue Reading

OFAC Sanctions Staff of the Syrian Scientific Studies and Research Center

On 24 April 2017, the US Treasury Department’s Office of Foreign Assets Control (OFAC) designated 271 persons working in the Syrian Scientific Studies and Research Center to be added to the agency’s Specially Designated Nationals (SDN) and Blocked Persons List. In its press release announcing the action, OFAC attributed the Syrian Scientific Studies and Research … Continue Reading

OFAC Targets Venezuelan Executive Vice President and Others Under Drug Trafficking Sanctions

On 13 February, the Office of Foreign Assets Control (OFAC) published the names of two individuals and 13 entities designated for blocking sanction under the Kingpin Act for involvement in narcotics trafficking. These included Venezuelan Vice President Tareck Zaidan El Aissami Maddah, and his business partner Samark Jose Lopez Bello, and a network of US and … Continue Reading

Trump Administration Imposes New Iran Sanctions

In response to recent ballistic missile testing activities by the Islamic Republic of Iran, the Trump administration, on 3 February 2017, issued its first economic sanctions, adding 13 individuals and 12 entities to the Office of Foreign Assets Control (OFAC) list of specially designated nationals and blocked persons. The designations were made under counter-proliferation and … Continue Reading

Trade Talk: Week in Review (29 August – 5 September 2016)

The U.S. Congress returns to Washington on Tuesday after a six-week recess.  On Monday, Senate Foreign Relations Committee (SFRC) Chairman Bob Corker (R-Tennessee) issued a statement on the perceived lack of strong U.S. leadership, setting the stage for potentially-increased Republican oversight this fall: Just as we saw our allies in Europe dissing us over the … Continue Reading
LexBlog