The Treasury Department’s Office of Foreign Assets Control (OFAC) added the following individuals to the Specially Designated Nationals (SDN) list on Feb. 5:

The Treasury Department’s Office of Foreign Assets Control (OFAC) settled a potential civil liability case on Jan. 27 with Joint-Stock Commercial Bank “Bank of Moscow” for $9,492,525 over alleged violations of the Weapons of Mass Destruction Proliferators Sanctions Regulations and Executive Order 13382. OFAC said Bank of Moscow committed 69 violations of the executive order (here) aimed at freezing the assets of weapons proliferators, and did not voluntarily self-disclose the alleged violations. OFAC determined, however, the alleged violations constitute a non-egregious case. From 2008 to 2009, Bank of Moscow allegedly transferred funds to or through the U.S. on behalf of an Iran-affiliated financial institution.

The Treasury Department’s Office of Foreign Assets Control (OFAC) settled a potential civil liability case with Clearstream Banking, S.A., for $151,902,000 over apparent violations of U.S. sanctions against Iran, the department said on Jan. 23. From December 2007 to June 2008 Clearstream maintained an account at a U.S financial institution through which the Central Bank of Iran (CBI) kept a beneficial ownership interest in U.S.-held securities, and performed certain associated services on behalf of the CBI. In February 2008, Clearstream also transferred securities entitlements to the CBI via a European commercial bank custody account. The apparent violations were not voluntarily disclosed to OFAC, said the department. Clearstream waived the right to legally object to the financial settlement and other aspects of the agreement.

The Treasury Department’s Office of Foreign Assets Control (OFAC) added an individual to the Specially Designated Nationals (SDN) list on Jan. 23.

The Treasury Department’s Office of Foreign Assets Control (OFAC) published on Jan. 20 guidance for Iran sanctions relief in order to implement the joint plan of action (JPOA), brokered between Iran and P5+1 countries on Nov. 24, 2013. The sanctions relief will take place from Jan. 20 to July 20, and the U.S. retains the right to scale back the relief in the event of JPOA violation. With the exception of certain civil aviation and humanitarian activities, the sanctions relief does not apply to U.S. persons or foreign entities owned or controlled by U.S. persons that are otherwise subject to the Iranian Transactions and Sanctions Regulations. or other related U.S. sanctions law. The relief does not involve persons on the OFAC Specially Designated Nationals and Blocked Persons lists, unless otherwise noted, OFAC said. The relief lifts sanctions in the following areas:

The Treasury Department’s Office of Foreign Assets Control (OFAC) added an individual to the Specially Designated Nationals (SDN) list on Jan. 16.

The Treasury Department’s Office of Foreign Assets Control (OFAC) added entities to the Specially Designated Nationals (SDN) list on Jan. 10. The State Department also designated on Jan. 10 the following entities as separate Foreign Terrorist Organizations and Specially Designated Global Terrorists (see 14011015).

The Treasury Department’s Office of Foreign Assets Control (OFAC) added individuals and entities to the Specially Designated Nationals (SDN) list on Jan. 10. The State Department also designated on Jan. 10 the following individuals as Specially Designated Global Terrorists and the following entities as separate Foreign Terrorist Organizations and Specially Designated Global Terrorist entities (see 14011015).

The Treasury Department’s Office of Foreign Assets Control (OFAC) added an individual to the Specially Designated Nationals (SDN) list on Jan. 8.

The Treasury Department’s Office of Foreign Assets Control (OFAC) on Dec. 18 added two individuals, deleted one, and made other changes to the Specially Designated Nationals (SDN) list.