On February 14, 2012, the Office of Foreign Assets Control added one individual to its "Specially Designated Nationals" list. SDNs are (i) individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries or (ii) individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. The assets of listed SDNs are blocked and U.S. persons are generally prohibited from dealing with them.
The Office of Foreign Assets Control has released Enforcement Information for February 7, 2012 on a civil penalty for Teledyne Technologies Inc. According to OFAC, Teledyne Technologies Incorporated and its subsidiary, Teledyne RD Instruments, Inc. (“Teledyne”), have agreed to pay a mitigated $30,385 civil penalty to settle allegations of violations of the Sudanese Sanctions Regulations.
The Fish and Wildlife Service has issued a notice clarifying the scope of sanctions that may be in place on imports of hunting trophies from Iran and Sudan.
OFAC Defines "Support" Criteria for Blocking Property Under Ivory Coast, Darfur, Congo Sanction Regs
The Office of Foreign Assets Control has issued a final rule that, effective February 8, 2012, amends the Cote d’Ivoire Sanctions Regulations, the Darfur Sanctions Regulations, and the Democratic Republic of the Congo Sanctions Regulations to add a definition of the term "financial, material, or technological support," as providing such support for a person whose property and interests in property are blocked under those regulations and which constitutes one of the criteria for designation as a person whose property and interests in property are blocked.
The Office of Foreign Assets Control states that it received a total of 929 applications requesting authorization to export agricultural commodities, medicine, and medical devices to Iran and Sudan under the one-year specific licensing regime of the Trade Sanctions Reform and Export Enhancement Act (TSRA) in the third and fourth quarters of fiscal year 2011 (April - September 2011). See notice for further statistics.
Effective on February 6, 2012, a new Executive Order 13599 takes a number of actions in furtherance of the Administration’s Iran sanctions program, including measures to implement section 1245 of the National Defense Authorization Act (NDAA). Among other things, the E.O. freezes all property of the Central Bank of Iran and all other Iranian financial institutions, as well as all property of the Government of Iran, further tightening the already broad-based and stringent U.S. sanctions on Iran.
On February 1, 2012, the Office of Foreign Assets Control removed two Sudanese entities from its Specially Designated Nationals list. SDNs are (i) individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries or (ii) individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. The assets of listed SDNs are blocked and U.S. persons are generally prohibited from dealing with them. The following two deletions have been made to OFAC's SDN list: (1) PEOPLE'S CO-OPERATIVE BANK, [SUDAN] and (2) UNITY BANK, [SUDAN]. OFAC notice (dated 02/01/2012) available here.
On February 1, 2012, the Office of Foreign Assets Control added four individuals and three entities to its "Specially Designated Nationals" list under the Kingpin Act. SDNs are (i) individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries or (ii) individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. The assets of listed SDNs are blocked and U.S. persons are generally prohibited from dealing with them.
On January 26, 2012, the Office of Foreign Assets Control added three individuals to its "Specially Designated Nationals" list. SDNs are (i) individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries or (ii) individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. The assets of listed SDNs are blocked and U.S. persons are generally prohibited from dealing with them.
On January 23, 2012, the Office of Foreign Assets Control added two entities to its "Specially Designated Nationals" list. SDNs are (i) individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries or (ii) individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. The assets of listed SDNs are blocked and U.S. persons are generally prohibited from dealing with them.