The U.N. Security Council recently removed Yassine Chekkouri from its ISIL (Da’esh) and al‑Qaida sanctions list “after concluding its consideration” of a delisting request received by the council. The council didn’t provide a specific reason for Chekkouri’s delisting. Chekkouri was sanctioned by the U.S. in 2002 for his ties to al‑Qaida and his involvement in arms and weapons trafficking.
Companies should prepare for the annual Sept. 30 deadline for filing reports on blocked property to the Office of Foreign Assets Control, Davis Wright said in a client alert last week. The law firm also noted that an interim final rule issued by OFAC in May requires filers of blocked property to now only submit those documents electronically instead of through mail, along with other "new requirements" for reports of blocked property and rejected transactions (see 2405080023).
The U.S. issued nearly 400 new financial blocking sanctions last week against people and companies in Russia and across Asia, Europe and the Middle East for aiding Russia’s war effort against Ukraine. The designations, issued by the Treasury and State departments, target “numerous” Russia-related procurement and sanctions evasion networks along with businesses involved in the Russian energy and mining industries, supporting the country’s military industrial base, connected to Russian state-owned entities, helping to forcibly re-educate Ukrainian children and more.
The Office of Foreign Assets Control this week outlined several initiatives it has recently completed or is planning to launch to modernize its website, sanctions guidance, and licensing and compliance applications.
A final rule released Aug. 20 by the Office of Foreign Assets Control adds a new general license for Myanmar and updates “terminology and references” across other sanctions program regulations, OFAC said.
The Office of Foreign Assets Control this week sanctioned Michel Martelly, the former Haitian president, who “abused his influence” to help drug traffickers move cocaine and other drugs to the U.S., the agency said.
Secretary of State Antony Blinken declined to explicitly say this week whether the U.S. would consider sanctioning Israeli government officials who may be contributing to Israeli violence against Palestinians in the West Bank, saying only that the U.S. wants Israel to “prevent this kind of violence.”
The European Council on Aug. 14 removed two people from its Yemen sanctions regime. Ali Abdullah Saleh, former president of Yemen who has died, and his son, Ahmed Ali Abdullah Saleh, former commander of Yemen's Republic Guard, were delisted. The U.N. and the U.K. also recently delisted them (see 2408020018).
The U.K. added 20 frequently asked questions on Aug. 15 pertaining to its Russia sanctions regime, the Office of Financial Sanctions Implementation announced. The questions cover a range of topics including securities restrictions, payment systems and financial services. The FAQs also cover the process for reviews and appeals for civil penalties and reporting requirements, which OFSI said requires individuals to report personal financial circumstances changes to OFSI "as soon as practicable." This requirement comes into play when the value of a party's economic resources changes by over 10,000 British pounds.
Sanctions compliance departments should consider updating their bookkeeping policies and practices to account for an upcoming expansion to U.S. sanctions-related record-keeping rules, which could lead to higher enforcement risks, Freshfields Bruckhaus said in a client alert last week.