The Treasury’s Office of Foreign Assets Control sanctioned five Venezuelan government officials associated with corruption and “rampant violence,” Treasury said in a Nov. 5 press release. The agency said the sanctions “reflect a unified effort” against the Nicolas Maduro regime because the designated officials were previously sanctioned by the European Union or Canada. “This action harmonizes our efforts with those of our international partners,” Treasury Secretary Steven Mnuchin said in a statement.
The Treasury’s Office of Foreign Assets Control released quarterly reports of licensing activities for certain authorizations to Iran and Sudan from January through September 2018, OFAC said in a Nov. 5 notice. The report provides information on license applications for exports of agricultural commodities, medicine, and medical devices to Iran and Sudan under the licensing regime in the Trade Sanctions Reform and Export Enforcement Act of 2000, OFAC said. The reports contain statistics on the number of license applications and licenses issued for each product, the number of applications and licenses issued for each country and more.
The Treasury’s Office of Foreign Assets Control amended and issued Venezuela-related general licenses and revoked two Turkey general licenses, according to a Nov. 5 notice. OFAC also published new and amended frequently asked questions to explain the Venezuela-related licenses.
The Treasury’s Office of Foreign Assets Control sanctioned Iran’s Armed Forces General Staff and nine government appointees of Iranian leader Ali Khamenei, Treasury said Nov. 4. The sanctions target officials in Khamenei’s office, the country’s Expediency Council and the judiciary, Treasury said.
The Treasury’s Office of Foreign Assets Control extended the expiration dates of two Ukraine General Licenses and expanded an authorization for certain activities, OFAC said in a Nov. 1 notice. General License No. 13M and No. 15G, replacing No. 13L and No. 15F, respectively, extend the expiration date of authorized transactions necessary to the wind-down of operations with GAZ Group until March 31, 2020. No. 15G also expands authorizations for certain “safety-related activity” and introduces a new authorization for “certain activities to comply with environmental regulatory requirements,” OFAC said.
The Treasury Department announced a mechanism to help companies ensure their humanitarian exports to Iran will not be diverted to the government and other sanctioned Iranian entities, Treasury said in an Oct. 25 press release. The mechanism will require participating foreign governments and financial institutions to “conduct enhanced due diligence” -- including the reporting of “a substantial and unprecedented amount of information” -- on a monthly basis. Treasury’s Office of Foreign Assets Control also issued a guidance outlining the requirements.
The Treasury’s Office of Foreign Assets Control amended a Venezuela-related general license, OFAC said in an Oct. 24 notice. General License No. 5A, replacing No. 5, authorizes certain transactions with certain bonds related to Petróleos de Venezuela, the country’s state-run oil company. OFAC also issued a Frequently Asked Question (No. 595) explaining that the license contains “a delay in effectiveness until January 22, 2020.”
The Treasury’s Office of Foreign Assets Control issued a general license to allow certain transactions with COSCO Shipping Tanker (Dalian) Co. -- a subsidiary of COSCO Shipping Corporation -- until Dec. 20, OFAC said in an Oct. 24 notice. General License K allows transactions that are necessary to the “maintenance or wind down” of transactions with COSCO Shipping Tanker (Dalian) and any entity it owns by more than 50 percent. The license does not authorize transactions with COSCO Shipping Tanker (Dalian) Seaman and Ship Management Co.
The Treasury’s Office of Foreign Assets Control extended the expiration date of a Belarus-related general license, OFAC said in a notice. General License No. 2G, replacing No. 2F, authorizes certain transactions with nine Belarusian entities until April 26, 2021.
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