The Office of Foreign Assets Control has released its 2010 annual report to certain Congressional committees, "Assets in the United States of Terrorist Countries and International Terrorism Program Designees," which includes figures for blocked funds in the U.S. relating to international terrorist organizations and state sponsors of terrorism; and non-blocked funds relating to Iran and Syria.
The Justice Department has announced that on May 9, 2011, GWC Valve International Inc., of California, and its chief executive officer, David Meador, were sentenced for conspiracy to export services related to industrial valves to Iran. On June 24, 2010, both GWC Valve International and Meador pleaded guilty to conspiring to violate the International Emergency Economic Powers Act (IEEPA) and the Iranian Transactions Regulations.
The Office of Foreign Assets Control has identified three companies owned by the Government of Libya as subject to sanctions pursuant to Executive Order 13566: Libyan Jamahiriya Broadcasting Corporation of Libya; Dalia Advisory Ltd. of the United Kingdom; and Lafico Algeria Holdings of Algeria. EO 13566 blocks all property and interests in property of these entities, and U.S. persons are prohibited from engaging in business with them. OFAC has also updated its Specially Designated Nationals list to include these designations.
The Office of Foreign Assets Control is publishing the names of 16 entities identified on March 15, 2011 and 14 entities identified on March 22, 2011, as persons whose property and interests in property are blocked pursuant to Executive Order 13566, “Blocking Property and Prohibiting Certain Transactions Related to Libya.”
The Office of Foreign Assets Control is publishing the names of six individuals in Colombia whose property and interests in property have been unblocked pursuant to Executive Order 12978, "Blocking Assets and Prohibiting Transactions With Significant Narcotics Traffickers," effective on April 28, 2011.
The Office of Foreign Assets Control is publishing the names of one individual and two entities in Mexico (Audio Alarmas, S.A. de C.V. and Basaltos Tonala, S.A. de C.V.), an individual in Iran, and an individual and an entity in Germany (Intercontinental Baumaschinen und Nutzfahrzeuge Handels GMBH) whose property and interests in property have been blocked pursuant to the Foreign Narcotics Kingpin Designation Act, effective April 28, 2011. OFAC is also publishing additions to the identifying information associated with one individual and one entity (Estetic Carr de Occidente, S.A. de C.V.) previously designated pursuant to the Kingpin Act. (See ITT's Online Archives or 04/28/11 news, 11042857, for previous BP summary of the Mexico designations.) The notice of the Mexico designations is available here. The notice of the Iran and Germany designations is available here.
The Office of Foreign Assets Control is updating the public listing of four entities in the U.S. whose property and interests in property are blocked pursuant to the Foreign Narcotics Kingpin Designation Act: IAC International Inc.; Aero Continente (USA) Inc.; Cargo Aircraft Leasing Corp.; and International Pacific Trading, Inc., all based in Florida.
The Office of Foreign Assets Control is publishing the name of one individual, Esperanza Galindo Leyva of Mexico, whose property and interests in property has been unblocked pursuant to the Foreign Narcotics Kingpin Designation Act, effective on April 28, 2011.
The Office of Foreign Assets Control has designated Jorge Luis Llanos Gazia and two Mexican companies, Audio Alarmas, S.A. de C.V. and Basaltos Tonala, S.A. de C.V., a construction materials company, as Specially Designated Narcotics Traffickers pursuant to the Foreign Narcotics Kingpin Designation Act. As a result, U.S. persons are prohibited from conducting financial or commercial transactions with the designees and any assets the designees may have under U.S. jurisdiction are frozen. OFAC has also updated its Specially Designated Nationals list to include these designations.
The Office of Foreign Assets Control is publishing the names of five individuals in Turkey whose property and interests in property have been blocked pursuant to the Foreign Narcotics Kingpin Designation Act, effective April 20, 2011. (See ITT's Online Archives or 04/20/11 news, 11042052, for previous BP summary of these designations.)