Office of Foreign Assets Control

Amazon acknowledged in 2017 that it had reported apparent violations to U.S. Treasury.

More forgiving sanctions approach would avoid rate surge seen after COSCO sanctions.

The Office of Foreign Assets Control added Russian oil company overseas affiliate TNK Trading International in Switzerland to the Specially Designated Nationals and Blocked Persons List.

SITA committed 9,256 violations of the Global Terrorism Sanctions Regulations between 2013 and 2018 by providing services from and transiting through the U.S. to blacklisted Syrian and Iranian airlines.

Democratic Senators Charles Schumer and Sharrod Brown say sanctions should target not only the responsible Russian government agencies and officials, but President Vladimir Putin.

The Office of Foreign Assets Control has added the Swiss-based oil brokerage arm of Rosneft Trading to the SDN List for its recent arrangements to transport sanctioned Venezuelan oil.

President Trump directed the removal of sanctions against the Turkish defense and energy ministries on Oct. 23.

The Office of Foreign Assets Control added CONVIASA and its aircraft fleet to the Specially Designated Nationals and Blocked Persons List for supporting Maduro regime.

The Office of Foreign Assets Control said the action will block property of individuals helping to destabilize the West African country.

Chinese carrier’s formerly idled VLCCs return to a transport market already suffering from falling rates, Stifel Maritime analyst said.

Moscow-based Grand Service Express began offering service to the Russian-occupied Crimean Peninsula in December.

The Stamford, Connecticut-based shipowner agreed to pay a $1,125,000 civil penalty to the U.S. Treasury Department’s Office of Foreign Assets Control for Burma sanctions violations.

Treasury Secretary Steven Mnuchin said the Iranian metals industry generates billions of dollars for the regime, contributing to its nuclear weapons program.

A bipartisan group of U.S. House and Senate lawmakers see export controls as a means to punish those Chinese officials and companies involved in human rights abuses in western China and Hong Kong.

Experts say reversal of penalty related to U.S. Treasury Department’s Office of Foreign Assets Control won’t hinder its broader enforcement activities.

Limited prohibitions of certain American-made technology exports and financial transactions are currently in place for the Middle East country rebuilding from 20 years of war.

Aivars Lembergs resigned as chairman of Vetspils Freeport Authority on Dec. 10, the day after the U.S. sanctioned the port authority for its connection to the Latvian oligarch.

The Office of Foreign Assets Control has added the son of Nicaraguan President Daniel Ortega to the Specially Designated Nationals and Blocked Persons List.

The Treasury Department’s Office of Foreign Assets Control warns U.S. companies to exercise due diligence against entanglements with sanctioned transportation services providers.

Office of Foreign Assets Control adds Try Pheap and 11 of his companies to the Specially Designated Nationals and Blocked Persons List.

The Treasury Department agency is closely monitoring vessel name changes used by Venezuelan and Cuban authorities to sidestep U.S. trade sanctions.

Dow Jones Risk & Compliance has 24/7 monitoring and dedicated researchers to track and build detailed profiles of individuals and entities that are subject to economic sanctions.

The Office of Foreign Assets Control places subsidiary to Cuban state-run oil shipper, Corporacion Panamericana, on blacklist for circumventing sanctions against Venezuela’s oil sector.

For two years the software company’s sanctions screening failed to detect a Slovenian app store developer and its owner who were placed on the Specially Designated Nationals and Blocked Persons List.

The U.S. Treasury Department’s Office of Foreign Assets Control assessed $210,600 civil penalty against Apollo Aviation Group for violating the Sudanese Sanctions Regulations.

“This new humanitarian mechanism will help international companies that seek to engage in permissible humanitarian trade with Iran to ensure that they do not run afoul of sanctions,” Treasury Secretary Steven Mnuchin said.

The Trump administration said the Turkish government satisfied the five-day ceasefire commitment in northern Syria.

The Southern African country’s political leadership established the national holiday to protest longtime U.S. economic sanctions.

The Office of Foreign Assets Control policy, which focuses on financial ownership of sanctioned individuals or entities, bedevils U.S. companies with sophisticated compliance programs.

The Office of Foreign Assets Control on Oct. 17 extended the general license for Nynas AB that is 50% owned by Venezuela’s state-owned oil company, Petrόleos de Venezuela S.A.

Turkey has the next five days to maintain the ceasefire against Syrian and Kurdish forces before the U.S. sanctions are removed.

The Trump administration takes aim at financial assets of Turkish government agencies and officials linked to military strikes in Syria, but Congress may legislate broader sanctions in the days ahead.

The U.S. Treasury Department’s Office of Foreign Assets Control said three GE subsidiaries failed to use “reasonable care” by accepting payments from a Cuban entity associated with a Canadian customer.

The Treasury Department’s Office of Foreign Assets Control identified Moscow-based Maritime Assistance LLC as the head of a “sanctions evasion scheme” to deliver jet fuel to Syria.

Four ocean shipping firms and four tankers are added to the Office of Foreign Assets Control’s Specially Designated Nationals List for their roles in supporting Maduro regime.

The Treasury Department adds two banks to the Specially Designated Nationals and Blocked Persons List in response to Iran’s alleged involvement in missile attacks against Saudi Arabia’s oil facilities.

A Treasury Department official reaffirmed on Sept. 8 the Trump administration’s denial of temporary waivers that previously allowed countries to import Iranian crude oil under U.N. and U.S. sanctions.

Treasury’s Office of Foreign Assets Control warns that companies providing bunker services must be careful not to violate the Iran sanctions, but there are exceptions.

Treasury’s Office of Foreign Assets Control sanctioned 16 entities and 10 individuals, as well as 11 ships, which it identified as participants in an Iran-controlled “oil-for-terror” shipping scheme.

The Office of Foreign Assets Control said additional trade regulations will take aim at the Nicaraguan president and his regime for the ongoing use of violence against the country’s people.

OFAC has added two Taiwan entities and another in Hong Kong, as well as their managers, to its list of sanctions for illicit ship-to-ship transfers of fuel to North Korea.

A Hong Kong firm was sanctioned this week by the Office of Foreign Assets Control for its alleged role in the illegal transshipment of U.S. technology to Iran.

U.S. companies with business in Russia — even those not engaged in chemical or biological exports — should understand the sanctions to avoid compliance exposure, export compliance experts say.

The U.S. State Department’s Bureau of International Security and Nonproliferation said it will move forward with the imposition of a second round of trade sanctions against Russia.

The U.S. Treasury Department’s Office of Foreign Assets Control has started making examples of companies that did not take its administrative subpoenas for information involving alleged sanctions violations seriously.

Customs and Border Protection has updated its seizure mitigation guidelines involving licensed and non-licensed exports for its officers at the nation’s ports of entry.

PACCAR agreed to a $1.7 million settlement from the U.S. Treasury Department that its European subsidiary, DAT Trucks, illegally engaged in the sale 63 trucks to Iran between 2013 and 2015.

The State, Treasury and Commerce departments are ramping up to implement an Aug. 1 executive order from President Donald Trump that imposes a second round of sanctions against Russia.

The U.S. Treasury Department’s Office of Terrorism and Financial Intelligence is at the center of the country’s efforts to counter national security and terrorism financing threats.