The Office of Foreign Assets Control last week added two Russian nationals and three Russian entities to its Specially Designated Nationals List and issued a new general license.
The Office of Foreign Assets Control sanctioned Cambodian businessman Ly Yong Phat, his company L.Y.P. Group Co., LTD, and the O‑Smach Resort for their ties to serious human rights abuses, including forced labor. The agency also designated Cambodia-based Garden City Hotel, Koh Kong Resort and Phnom Penh Hotel for being owned or controlled by Ly.
The U.S. sanctioned two shipping companies and two vessels last week for their involvement in exports of liquefied natural gas from Russia’s Arctic LNG 2 project, an energy project sanctioned by the U.S. The designations target Gotik Shipping Co and Plio Energy Cargo Shipping OPC PVT LTD, which are the registered owner and commercial manager, respectively, of LNG carrier New Energy. The U.S. also sanctioned the Mulan, an LNG carrier managed and operated by Pilo Energy.
The banking industry’s increasing overcompliance with U.S. sanctions is leading to an uptick in unnecessary financing delays and transaction cancellations, nongovernmental organizations told the Treasury Department. They said the issues are causing hurdles for humanitarian groups trying to deliver aid abroad and raising discrimination concerns among foreigners living in the U.S.
A new set of advanced technology export controls announced by the Bureau of Industry and Security this week will apply to quantum computing, semiconductor manufacturing, 3D printing and other critical technologies that BIS said could be used by foreign militaries to harm U.S. national security. The measures, outlined in an interim final rule released Sept. 5, also include a new license exception that could allow U.S. exporters to continue shipping these technologies to a list of close American allies.
The U.S. this week sanctioned 10 people and two entities involved in Russian government “influence operations,” including state-funded news outlets and their employees.
The U.K. updated the general license under its Russian sanctions regime that authorizes certain imports of Russian diamonds processed in third countries. The license previously only allowed the import of diamonds equal to or larger than one carat that haven't been located in Russia at any time since March 1. The U.K. updated the license to permit the import of diamonds that haven't been located in Russia since Sept. 1 and are smaller than one carat but larger than or equal to one-half carat.
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.
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.
A new general license that was published last week by the U.K. authorizes certain exports of dual-use or military items for use in the Global Combat Air Program, a project among the U.K., Japan and Italy to develop an advanced stealth aircraft. The license can be used by exporters who are contracted to work on GCAP and “permits certain exports and transfers from the United Kingdom only.” It also allows Italian and Japanese GCAP authorized contractors operating in the U.K. -- but “ordinarily domiciled outside” of the U.K. -- to use the license for intangible technology transfers only. The license took effect Aug. 14.