The Office of Foreign Assets Control has designated the leader of a Mexico-based network and two associates for procuring precursor chemicals to manufacture and traffic fentanyl and other synthetic drugs to the U.S., according to a Jan. 30 news release.

The Treasury Department is seeking public comments on an information collection on certain reporting requirements under the financial sanctions regulations for Hezbollah. U.S. financial institutions that maintained a correspondent account or payable-through account for certain foreign financial institutions listed by the Office of Foreign Assets Control must file a report with OFAC that includes “full details on the closing of each such account, and on all transactions processed or executed through the account.” This report must be filed with OFAC within 30 days of the account's closure. Public comments are due March 1.

The Office of Foreign Assets Control this week sanctioned Horacio Manuel Cartes Jara and Hugo Adalberto Velazquez Moreno, the former president and current vice president of Paraguay, respectively, for significant corruption. The agency also sanctioned Tabacos USA Inc., Bebidas USA Inc., Dominicana Acquisition S.A. and Frigorifico Chajha S.A.E. for being owned by Cartes.

The U.S. this week expanded sanctions against Wagner Group and designated people, entities and aircraft linked to the Russian private military company. The designations will "degrade the Russian Federation’s capacity to wage war against Ukraine," the Office of Foreign Assets Control said in a Jan. 26 news release, and target infrastructure that "supports battlefield operations in Ukraine," including weapons producers and administrators of Russian-occupied areas.

The Office of Foreign Assets Control this week designated three people for their financial support of Hezbollah, including Hassan Moukalled and his business CTEX Exchange. OFAC sanctioned Moukalled, a Lebanese money exchanger, and CTEX for working closely with Hezbollah financiers to help the group "establish a presence" in Lebanon's financial system. Moukalled serves as a financial adviser to Hezbollah and does business on behalf of the group, representing it in financial negotiations, the agency said. In addition, OFAC designated Moukalled's two sons, Rayyan and Rani, who OFAC said support their father and his business with Hezbollah.

Jason Prince, former chief counsel at the Treasury Department's Office of Foreign Assets Control, has moved to Crowell & Moring as a partner, the firm announced. He will advise clients on sanctions and export controls imposed on Russia and other nations and parties. During his time at OFAC, Prince "oversaw the legal design of new sanctions measures and led the legal review of all major OFAC enforcement, compliance, licensing, litigation, and regulatory actions," the firm said.

Charles McGonigal, former special agent in charge of the New York FBI counterintelligence division, and Sergey Shestakov, a Russian court interpreter and former diplomat, were charged with conspiring to commit money laundering and money laundering, the U.S. Attorney's Office for the Southern District of New York announced. The two were charged with one count of conspiring to violate the International Emergency Economic Powers Act, one count of violating the IEEPA, one count of conspiring to launder money and one count of money laundering, each carrying a maximum 20-year prison sentence. Shestakov also was charged with one count of making false statements, which has a five-year maximum prison sentence.

The Office of Foreign Assets Control this week designated Iran’s Islamic Revolutionary Guard Corps Cooperative Foundation along with five of its board members, Iran's deputy minister of intelligence and security, and four senior IRGC commanders.

Sharath Patil, former associate attorney at Diaz Trade Law, has joined the Treasury Department's Office of Foreign Assets Control as a sanctions enforcement officer, according to his LinkedIn page. Before working at Diaz Trade Law, Patil was research director for international trade at the nonprofit advocacy group Public Citizen.

The G-7 price cap on Russian oil, along with other trade restrictions, appears to be having a significant impact on the global price of Russian energy, experts said during an event hosted by the Center for Strategic and International Studies last week. But they also said it remains unclear whether the cap is limiting Russia’s export volumes and said it’s too early to tell how well industry is complying with the cap’s service restrictions.