The Office of Foreign Assets Control has issued a final rule, effective February 11, 2011, which adds a new Part 562 to 31 CFR, the “Iranian Human Rights Abuses Sanctions Regulations.”
The Office of Foreign Assets Control is publishing the names of four newly-designated entities and one newly-designated individual affiliated with the Islamic Revolutionary Guard Corps (IRGC) and the Islamic Republic of Iran Shipping Lines (IRISL) whose property and interests in property are blocked pursuant to Executive Order 13382, “Blocking Property of Weapons of Mass Destruction Proliferators and Their Supporters,” effective December 21, 2010. (See ITT's Online Archives or 12/23/10 news, 101223, for previous BP summary of these designations.)
The Office of Foreign Assets Control has released new frequently asked questions and answers regarding packages that are blocked or rejected pursuant to OFAC regulations.
The Office of Foreign Assets Control is publishing the names of four individuals and one entity whose property and interests in property have been blocked pursuant to the Foreign Narcotics Kingpin Designation, effective February 1, 2011. (See ITT's Online Archives or 02/01/11 news, 11020160, for previous BP summary of these designations.)
The Office of Foreign Assets Control has released new civil penalties and enforcement information as follows:
The Treasury Department's Office of Foreign Assets Control has designated Los Gueros as a Specially Designated Narcotics Trafficker (SDNT) pursuant to the Foreign Narcotics Kingpin Designation Act, as well as leaders of Los Gueros and key members of the Sinaloa Cartel. U.S. persons are prohibited from conducting financial or commercial transactions with the designees, and any assets they 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 has issued two notices publishing the names of (1) one individual and twelve entities, including Ellissa Shipping of Benin, and (2) nine individuals and eight entities, including Phenicia Shipping Offshore SARL of Lebanon, whose property and interests in property have been blocked pursuant to the Foreign Narcotics Kingpin Designation Act, effective January 26, 2011. (See ITT's Online Archives or 01/27/11 news, 11012750, for previous BP summary of these designations.)
The Office of Foreign Assets Control has issued a final rule, effective February 11, 2011, which revokes a general license which authorized U.S. persons to engage in transactions with two blocked entities, Lakokraska OAO and/or Polotsk Steklovolokno OAO1.
The Office of Foreign Assets Control has issued a final rule, effective January 28, 2011, which amends the Cuban Assets Control Regulations to implement policy changes to, among other things, allow for greater licensing of travel to Cuba for educational, cultural, religious, and journalistic activities and expand licensing of remittances to Cuba. These amendments also modify regulations regarding authorization of transactions with Cuban national individuals who have taken up permanent residence outside of Cuba.
The Office of Foreign Assets Control has designated Lebanese narcotics trafficker Ayman Joumaa, as well as nine individuals and 19 entities connected to his drug trafficking and money laundering organization, as Specially Designated Narcotics Traffickers pursuant to the Foreign Narcotics Kingpin Designation Act. These designations include:(1) Phenicia Shipping Offshore SARL of Lebanon and (2) Ellissa Shipping of Benin. As a result of today’s designations, U.S. persons are prohibited from conducting financial or commercial transactions with these individuals and entities and any assets the designees may have under U.S. jurisdiction are frozen.