The leaders of the Senate Foreign Relations Committee urged the Trump administration April 21 to give Syria additional sanctions relief to help stabilize the war-torn country.
The U.K. Office of Financial Sanctions Implementation on April 23 added three FAQs to address issues surrounding the use of sanctions licenses that mention Rosbank PJSC and Bank Otkritie.
The Office of Foreign Assets Control this week published Arabic translations of several general licenses that authorize certain transactions with the Yemen-based Houthis, also known as Ansarallah. The licenses cover transactions related to certain agricultural goods, telecommunications, personal remittances, petroleum products, port operations and diplomatic missions.
A new license issued this week by the Office of Foreign Assets Control authorizes payments of certain taxes, fees, import duties, licenses, certifications and other similar transactions involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, and the Ministry of Finance of the Russian Federation that would normally be blocked under Directive 4 of Executive Order 14024. General License 13M authorizes those transactions through 12:01 a.m. EDT July 9 as long as they are “ordinarily incident and necessary to the day-to-day operations in the Russian Federation of such U.S. persons or entities.”
The State and Treasury departments should form a task force to “robustly investigate and sanction” illicit gold trafficking networks, a watchdog group representative told a House panel March 25.
The U.K. on March 24 revised two Russia-related general licenses to capture certain transactions with Russian commercial bank T-Bank. The licenses, which authorize certain humanitarian activity and energy-related payments, had previously allowed certain transactions with Rosbank or Tinkoff Bank. Tinkoff Bank has since changed its name to T-Bank (see 2503070043), and the company operates Rosbank as one of its branches.
The U.S. is giving oil company Chevron more time to wind down certain oil activities in Venezuela that had been authorized by an Office of Foreign Assets Control general license, OFAC said March 24.
The Office of Foreign Assets Control last week updated several general licenses related to the Yemen-based Houthis, also known as Ansarallah, the group designated by the Trump administration as a foreign terrorist organization (see 2503040008).
Although President Donald Trump has ordered his administration to reimpose maximum sanctions pressure against Iran, a State Department spokesperson on March 6 declined to say whether the U.S. plans to allow a waiver to expire this week that has authorized exports to Iraq of Iranian gas and electricity.
The Office of Foreign Assets Control on March 6 again extended a general license that continues to delay an exemption that would authorize certain transactions related to Petroleos de Venezuela, the country’s state-owned energy company. General License 5R, which replaced GL 5Q, now authorizes certain transactions with PdVSA involving an 8.5% bond on or after July 3. The previous license was set to allow those transactions to occur on or after March 7.