The Office of Foreign Assets Control is publishing the names of 2 entities and 18 individuals that are removed from the Specially Designated Nationals list and whose property and interests in property have been unblocked pursuant to Executive Order 12978, effective September 21, 2011.
The Office of Foreign Assets Control states that it received a total of 372 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 first quarter of fiscal year 2011 (October - December 2010). See notice for further statistics.
On September 21, 2011, the Office of Foreign Assets Control made several changes 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 is publishing the names of five Mexican entities and four Mexican individuals whose property and interests in property have been blocked pursuant to the Foreign Narcotics Kingpin Designation Act, effective September 15, 2011. U.S. persons are prohibited from engaging in any transaction or dealing in property or interests in property of foreign persons designated under the Kingpin Act and from engaging in any transaction that evades or avoids the prohibitions of the Kingpin Act. These prohibitions affect trade transactions as well as accounts, securities, and other assets.
On September 19, 2011, the Office of Foreign Assets Control issued General License No. 7A and General License No. 8 pursuant to the Libyan Sanctions Regulations and Executive Order 13566 of February 25, 2011, "Blocking Property and Prohibiting Certain Transactions Related to Libya."
On September 15, 2011, the Office of Foreign Assets Control made several changes 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 sanctioned one Mexican national, Alfredo Vasquez Hernandez (aka Alfredo Compadre), pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act) for providing support to the Sinaloa Cartel. U.S. persons are now prohibited from conducting financial or commercial transactions with the designee and any assets he may have under U.S. jurisdiction are frozen.
The State Department has issued a notice detailing and amending the previously announced sanctions it imposed on seven firms (now eight) that were determined to have engaged in sanctionable activities related to Iran’s petroleum sector under Section 5(a) of the Iran Sanctions Act (ISA), as amended by the Comprehensive Iran Sanctions, Accountability, and Divestment Act (CISADA) of 2010.
On September 9, 2011, the Office of Foreign Assets Control issued General License No. 7 pursuant to the Libyan Sanctions Regulations, 31 CFR Part 570, and Executive Order 13566 of February 25, 2011, "Blocking Property and Prohibiting Certain Transactions Related to Libya." General License No. 7 authorizes U.S. persons to engage in any transactions involving entities owned or controlled by the Libyan National Oil Corporation, with the exception of Zueitina Oil Company, provided that such transactions do not involve the Libyan National Oil Corporation itself or any other persons whose property and interests in property are blocked. General License No. 7 available here.
The Office of Foreign Assets Control has updated its Specially Designated Nationals list to add four Venezuelan nationals. The assets of Cliver Antonio Alcala Cordones; Freddy Alirio Bernal Rosales; Amilcar Jesus Figueroa Salazar; and Ramon Isidro Madriz Moreno are now blocked and U.S. persons are generally prohibited from dealing with them. Treasury Department release on Kingpin Act sanctions available here. OFAC Federal Register notice announcing the update available here.