The Office of Foreign Assets Control this week sanctioned two Russian nationals for their ties to LockBit, a Russia-based ransomware group. The designations target Ivan Gennadievich Kondratiev, a LockBit affiliate and leader of the National Hazard Society, a LockBit affiliate sub-group; and Artur Sungatov, a Lockbit ransomware group affiliate who has “actively engaged in LockBit ransomware attacks,” OFAC said.
The Office of Foreign Assets Control on Feb. 16 issued a new guidance document on U.S. sanctions against Ansarallah, also known as the Houthis, to coincide with sanctions taking effect on the Yemeni group that same day pursuant to its formal addition to the Specially Designated Nationals list.
Industry lawyers and advisers see the Bureau of Industry and Security's revamped voluntary disclosure policies as a positive set of moves that could reduce compliance burdens on exporters and encourage more companies to come forward with tips about their competitors. But at least one former government official said corporations should remain skeptical about the changes until BIS offers more clarity about how it will implement them in practice.
The Office of Foreign Assets Control is modifying its North Korea sanctions regulations to amend a general license for humanitarian activities carried out by non-governmental organizations in North Korea. The agency also is adding three new general licenses for Commerce Department-authorized transactions, agricultural and medical goods, and some journalistic activities, it said.
The U.S. this week sanctioned four entities and three people for procuring and facilitating the illegal export of “goods and technology from over two dozen U.S. companies” to Iranian end-users, including the Central Bank of Iran.
A New York freight forwarder agreed to complete export compliance training, but won’t face a fine, after admitting to the Bureau of Industry and Security that it illegally shipped enterprise servers and switches to Iran on behalf of an Iran-based exporter.
Upcoming know-your-customer rules for U.S. cloud service providers come with a new set of compliance risks, with providers potentially facing lability not just from the Commerce Department but also from U.S. sanctions authorities, Sidley Austin said in a client alert this month.
The Office of Foreign Assets Control this week sanctioned four entities and identified one vessel for violating the price cap on Russian oil. OFAC said they were involved in a “price cap violation scheme” in late 2023 that included making calls at Russian ports.
The Office of Foreign Assets Control this week sanctioned an Ecuadorian gang and its leader for their ties to drug trafficking and violence.
The U.K. government faced pressure from Parliament this week about whether it failed to sanction companies owned by Iran’s state-backed petrochemicals firm, allowing it to evade western restrictions by maintaining accounts with at least two London banks. Members of Parliament called for an investigation and said the government may need more sanctions enforcement resources.