The Office of Foreign Assets Control and PanAmerican Seed Company entered into a $4.3 million civil settlement, after OFAC alleged the firm violated the Iranian Transactions and Sanctions Regulations by indirectly exporting flower and other seeds 48 times to two Iranian distributors from May 2009 to March 2012, the agency said (here). PanAm Seed didn’t voluntarily disclose the alleged violations, which specifically involved seed shipments to consignees based in two third-countries in Europe or the Middle East, as well as arrangements made by PanAm customers for re-exportation of the seeds to Iran, the agency said. OFAC deemed the case to be egregious. High- and mid-level personnel of PanAm Seed and/or its parent company Ball Horticultural were aware of U.S. sanctions applying to Iran and the requirement to get a specific OFAC license to export the seeds, OFAC said.
The Office of Foreign Assets Control entered into a $43,200 settlement with World Class Technology (WCT) Corporation for its alleged exportation of seven shipments of orthodontic devices, valued at a combined $59,886, from the U.S. with the intent for them to eventually reach Iran, OFAC said (here). WCT shipped the goods to Germany, the United Arab Emirates, “and/or” Lebanon, with the “knowledge or reason to know” the shipments were intended to be supplied, transshipped or re-exported to Iran, in apparent violation of the Iranian Transactions and Sanctions Regulations, OFAC said.
The Office of Foreign Assets Control added several individuals and entities to its Specially Designated Nationals (SDN) list, under Russian/Ukrainian designations, and has added several entities to its sectoral sanctions identifications list, OFAC said (here). The agency also made a change to an entity designation on its SDN list, it said.
The Office of Foreign Assets Control added two individuals to its Specially Designated Nationals list, under Central African Republic designations, OFAC said (here).
The Office of Foreign Assets Control removed seven individuals from the list of Specially Designated Nationals pursuant to Zimbabwe sanctions regulations (here), as well as 40 other entities under counterterrorism designations (here), OFAC said. The agency also added two individuals and two entities, with ties to Mexico, under counterterrorism designations, it said.
U.S. shippers and forwarders are seizing new opportunities created through recently loosened trade restrictions between the U.S. and Cuba, yet U.S. export activities frequently fall short of firms’ expectations as companies often encounter uncertain and changeable terms of bilateral engagement. In addition to navigating incongruous trade regulations across both countries, firms involved in exporting to Cuba must still avoid violating the U.S. trade embargo while cultivating Cuban buyers who commonly have spotty phone and internet access, according to several private sector officials directly engaged in U.S.-Cuba trade regulations.
The Office of Foreign Assets Control deleted 19 individuals from its Specially Designated Nationals list, under Lebanon (here) designations and counterterrorism designations (here), OFAC said. The agency also made two changes to the SDN list.
The Office of Foreign Assets Control issued “General License J,” which authorizes “temporary sojourn” re-exportations by non-U.S. persons of U.S.-origin, fixed-wing civil aircraft, as well as “non-U.S.-origin fixed-wing civil aircraft of which U.S.-controlled content constitutes 10 percent or more of the total value” and that is classified under Export Control Classification Number (ECCN) 9A991.b and registered outside the U.S. or any country in Export Administration Regulations Country Group E:1, which includes Iran, OFAC said (here). The authorizations are subject to certain technical, professional and logistical criteria.
The Office of Foreign Assets Control deleted 12 individuals from its Specially Designated Nationals list, under counterterrorism designations, OFAC said (here).
The Office of Foreign Assets Control issued general licenses under “Kingpin Act/Panama” on July 21, OFAC said (here). General License 5B is set to expire on Feb. 3, 2017, and authorizes certain transactions necessary during the reorganization of Balboa Bank & Trust by the Superintendency of Banking of Panama and the appointed reorganizer following the superintendency's seizure of Balboa to analyze and make recommendations regarding financial viability and reorganization, or to foster, negotiate or agree to Balboa's reorganization and any subsequent sale, disposition, or transfer of products. This includes software, hardware, goods and services related to bank employment and administration, and building maintenance and operations. General License 6B is set to expire on Feb. 3, 2017, and authorizes all transactions and activities otherwise banned by the Foreign Narcotics Kingpin Designation Act and the Foreign Narcotics Kingpin Sanctions Regulations necessary during the reorganization of Balboa Securities by the Superintendency of the Securities Market of Panama and the appointed reorganizer for inventory of assets and liabilities of Balboa Securities or to foster, negotiate or agree to Balboa Securities' reorganization and any subsequent sale, disposition or transfer of products. That includes exportation, re-exportation, or "provision, directly or indirectly," of software, hardware, goods and services related to bank employment and administration, and building maintenance and operations. Both licenses note that a separate OFAC license will be required for any transaction or activity to finalize, close or exchange assets or "any other thing of value" related to the sale, disposition or transfer of Balboa Bank or Balboa Securities involving a U.S. person or someone otherwise subject to U.S. jurisdiction. OFAC also updated two frequently asked questions about Panama-related activities.