The Office of Foreign Assets Controls has posted enforcement information for December 20, 2011 concerning a civil penalty of $13,500 assessed against Lanier Marine Liquidators of Dawsonville, Georgia, to settle allegations of violations of the Sudanese Sanctions Regulations (31 CFR Part 538) occurring between March 2005 and March 2006. OFAC alleged that LML entered into contracts to sell boats and boat parts to an individual in Sudan, and attempted to export a boat and boat parts to Sudan valued at $30,460.
The Office of Foreign Assets Control has issued a December 21, 2011 updated list of all currently authorized Carrier Service Providers, Travel Service Providers, and Remittance Forwarders for Cuba.
The Office of Foreign Assets Control will be holding a Financial Industry Symposium on March 20, 2012 to hold a dialogue and exchange views and information on current and emerging U.S. economic sanctions regulations. OFAC states that more information on this symposium will be published in January 2012.
On December 20, 2011, the Treasury Department announced the designation of ten shipping and front companies based in Malta and one individual, which are affiliated with the Islamic Republic of Iran Shipping Lines (IRISL), an entity facing international sanctions for its involvement in Iran’s efforts to advance its missile programs and transport military cargoes. Treasury states that the action is being taken as IRISL and its subsidiaries have increasingly relied upon multiple front companies and agents to overcome the impact of U.S. and international sanctions and increased scrutiny of their behavior.
On December 16, 2011, the Office of Foreign Assets Control issued General License (GL) No. 11 which unblocks all property and interests in property of the Government of Libya, its agencies, instrumentalities, and controlled entities, and the Central Bank of Libya (including Libyan Arab Foreign Bank). However, all funds, including cash, securities, bank accounts, and investment accounts, and precious metals of the Libyan Investment Authority (“LIA”) and entities owned or controlled by the LIA (including the Libyan Africa Investment Portfolio) that were blocked as of September 19, 2011, remain blocked.
On December 15, 2011, the Office of Foreign Assets Control added an individual from Saudi Arabia and an individual from Spain to its "Specially Designated Nationals" list. OFAC is also updating the entries for two individuals from Jordan and Indonesia. SDNs are (i) individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries or (ii) individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. The assets of listed SDNs are blocked and U.S. persons are generally prohibited from dealing with them.
The Office of Foreign Assets Control will be holding an International Trade Symposium on February 14, 2012 to help the international trade community to better understand, and successfully comply with, U.S. economic sanctions.
On December 13, 2011, the Office of Foreign Assets Control added two entities from Iran to its "Specially Designated Nationals" list due to human rights abuses. SDNs are (i) individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries or (ii) individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. The assets of listed SDNs are blocked and U.S. persons are generally prohibited from dealing with them.
On December 9, 2011, the Office of Foreign Assets Control added two entities from Zimbabwe to its "Specially Designated Nationals" list that have been identified as entities in which the Zimbabwe Mining Development Corporation, whose property and interests in property are blocked pursuant to Executive Order 13469. SDNs are (i) individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries or (ii) individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. The assets of listed SDNs are blocked and U.S. persons are generally prohibited from dealing with them.
On December 8, 2011, the Office of Foreign Assets Control removed eight Colombian persons (2 entities and 6 individuals) from its Anti-Narcotics Specially Designated Nationals list. SDNs are (i) individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries or (ii) individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. The assets of listed SDNs are blocked and U.S. persons are generally prohibited from dealing with them.