International Trade Today is a service of Warren Communications News.
Subscriber Login
Treasury Dept.
to
Refine Category Search
Clear Terms

Search Primer

Multi-word term: Place inside quotes to ensure an exact match together (e.g. "China import").

Term list: Separate terms with spaces, not commas or semicolons to find either word (e.g. AD/CVD antidumping).

Acronyms: Use all capital letters (e.g., ACE).

Required term: If a term must be included in any resulting articles, prefix it with a plus sign (e.g., CBP +releases).

Excluded term: If a term should be excluded from any articles being found, prefix it with a minus sign (e.g., -ruling).

Singular form: Use the singular form when doing multi-word terms (e.g. "russian export control" instead of "russian export controls").

Shortest word form: When you have different word forms in a quoted term, include the shortest version if it is the last part of the expression (e.g., "entity list" instead of "entity listing" or "entity listed").

Treasury Lists Countries Cooperating With International Boycott
November 26, 2013 by Brian Dabbs|Treasury Dept.

The Treasury Department issued a current list of countries which require or may require participation in, or cooperation with, an international boycott. The list includes Iraq, Kuwait, Lebanon, Libya, Qatar, Saudi Arabia, Syria, United Arab Emirates and Yemen. The list is unchanged from Treasury's last quarterly update (see 13083016).

OFAC Settles Sanctions Violation Suit with Weatherford International
November 26, 2013 by Brian Dabbs|Treasury Dept.

The Department of Treasury Office of Foreign Affairs Control (OFAC) settled a civil liability suit with Weatherford International Ltd. for apparent violations of the Cuban Assets Control Regulations, Iranian Transactions and Sanctions Regulations and Sudanese Sanctions Regulations, OFAC said Nov. 26. Weatherford and its subsidiaries provided oilfield equipment and services, along with other direct or indirect exportation of goods, technology, and/or services to the countries in question, said OFAC. “Weatherford’s $91,026,450 settlement with OFAC will be deemed satisfied by the $50 million in criminal fines and monetary penalties paid by Weatherford International Ltd. and two of its subsidiaries pursuant to their agreements with the USAO, as well as the $50 million civil penalty paid to BIS,” said OFAC.

OFAC Authorized Transactions on Arrested MV Dianthe
October 31, 2013 by Brian Dabbs|Treasury Dept.

The Treasury Department’s Office of Foreign Affairs Control (OFAC) authorized certain transactions related to a Specially Designated Nationals and Blocked Persons list vessel, MV Dianthe, currently under arrest in Mundra, India, according to an Oct. 30 OFAC statement. Such transactions include, but are not limited to, bidding on the purchase of the vessel, paying deposits and providing financing, insurance, or funding in connection with the purchase. In furtherance of the arrest, detention, and judicial sale of the vessel, vessel management service, port agency services, purchasing of bunkers, repairing or modifying the Vessel for commercial use, providing crewing, and hiring surveyors to inspect the vessel are also authorized. This authorization expires on Nov. 14, 2014.

Ameron International Settles with OFAC Over Iran, Cuba Sanctions Violations
October 24, 2013 by Brian Dabbs|Treasury Dept.

The Ameron International Corporation settled a civil liability case with the Treasury Department’s Office of Foreign Assets Control (OFAC) over alleged violations of the Iranian Transactions and Sanctions Regulations and Cuban Assets Control Regulations, agreeing to pay $434,700, OFAC said on Oct. 24. OFAC determined that Ameron did not voluntarily self-disclose to OFAC indirect dealings with Iranian and Cuban interests that occurred from 2005 to 2006. The apparent violations constitute a non-egregious case, OFAC said.

OFAC Announces Penalty for Iran Sanctions Violations
October 22, 2013 by Brian Dabbs|Treasury Dept.

The Treasury Department’s Office of Foreign Assets Control (OFAC) announced on Oct. 21 the assessment of a $1.5 million penalty against UAE-based investment, advising and trading company, Alma Investment, for violating the Iranian Transactions and Sanctions Regulations. The company did not voluntarily self-disclose at least six electronic funds transfers, totaling $103,283, processed through financial institutions located in the United States for the benefit of persons in Iran, OFAC determined. Alma did not have an OFAC compliance program, nor did it cooperate with OFAC during the investigation, said OFAC.