OFAC

The Office of Foreign Assets Control designated 18 entities related to Russia's financial services sector, according to a Dec. 15 press release. The State Department also issued a set of Russia sanctions, primarily targeting oligarch Vladimir Potanin, three members of his immediate family and his business network, the department said in a Dec. 15 press release.

The Office of Foreign Assets Control added two Haitian politicians to its Specially Designated Nationals List in connection with drug trafficking, it said in a Dec. 2 news release. The action comes less than a month after the U.S. and Canada designated two other Haitian politicians (see 2211040064).

The U.S. will allow Chevron to resume certain oil activities in Venezuela, giving the California-based energy company a “limited” license to pump oil in the sanctioned country for the first time in years. The license, which the White House believes will have a minimal impact on Venezuela's oil shipments, was issued in an effort to support the newly restarted negotiations between President Nicolas Maduro’s regime and the country’s opposition party, the Treasury Department said. It also comes amid opposition from U.S. Republicans, who warned the administration that a license would only offer the Maduro regime sanctions relief and undermine prospects for the return of democracy to Venezuela (see 2211020032, 2210280032 and 2210060014).

The U.S. this week sanctioned firms and people involved in making drones and transferring them from Iran to Russia, including an Iranian producer and two United Arab Emirates entities. The designations come less than a month after the U.S. said it was considering additional sanctions on both Russia and Iran following Iranian sales and operation of drones in Ukraine (see 2210210046).

The U.S. and Canada designated two Haitian nationals for their connection to illicit narcotics trafficking, the countries said Nov. 4. The two designees are Joseph Lambert, the sitting president of the Haitian Senate who has held political positions in Haiti for 20 years, and Youri Latortue, a former Haitian senator and a longtime politician.

President Joe Biden signed an executive order this week authorizing new sanctions and trade restrictions against Nicaragua. The U.S. also announced new Nicaragua-related designations and issued a general license.

Russian semiconductor imports have dropped 70% since the country became subject to broad Western sanctions and export controls earlier this year, the Commerce, Treasury and State departments said in a joint alert last week. The alert, which provides an overview of the U.S. restrictions, said the measures are having "significant and long-lasting consequences on Russia’s defense industrial base," which relies extensively on foreign-sourced items, especially on imported microelectronics. Russia's semiconductor shortage has also dramatically dropped automobile and consumer electronics production, the alert said. Sanctions and export controls have resulted in "a sharp economic contraction for Russia" that will continue to drag on the Russian economy for years, the alert said.

The U.S. last week announced a host of new sanctions and export controls against Russia, targeting Russian defense and technology companies, Russian government officials and various suppliers for supporting the country's military. The measures include hundreds of new designations and 57 additions to the Entity List, most of which will be subject to certain foreign direct product rule restrictions.

The Office of Foreign Assets Control on Sept. 29 sanctioned an international network of companies that have sold hundreds of millions of dollars’ worth of Iranian petrochemicals and petroleum products to end users in Asia. The designations target a range of Iranian and international brokers and front companies, including Iran Chemical Industries Investment Company, Middle East Kimiya Pars Co., India-based Tibalaji Petrochem Private Limited, Hong Kong-based Sierra Vista Trading Limited, United Arab Emirates-based Clara Shipping LLC and others, including the Panama-flagged liquid petroleum gas tanker Gas Allure. Along with OFAC, the State Department sanctioned China-based Zhonggu Storage and Transportation Co. Ltd. and WS Shipping Co. Ltd. for their involvement in Iran's petrochemical trade.

The Office of Foreign Assets Control on Sept. 15 issued two determinations to restrict certain quantum computing-related activities with Russia. One directive, effective immediately, imposes sanctions on Russia's quantum computing sector. The second directive, which will take effect at 12:01 a.m. EDT on Oct. 15, will prohibit the exportation, reexportation, sale or supply of quantum computing services to Russia. The prohibitions aim to "further degrade Russia’s ability to reconstitute its military with advanced technology," OFAC said.