The Treasury’s Office of Foreign Assets Control released two new Frequently Asked Questions related to its reporting, procedures and penalties regulations (see 1906200036), according to a Feb. 20 notice. The FAQs provide updated instructions and “incorporate” new requirements for filing reports with OFAC on blocked property, unblocked property and rejected transactions.
The Treasury’s Office of Foreign Assets Control designated five members of Iran’s Guardian Council and its Elections Supervision Committee for interfering with free and fair elections, Treasury said in a Feb. 20 notice. The members are Ahmad Jannati, the secretary of the Guardian Council; Mohammad Yazdi, a member of Iran’s Guardian Council who was formerly Iran’s first judiciary chief; and three members of the Elections Supervisory Committee: Abbas Ali Kadkhodaei, Siamak Rahpeyk and Mohammad Hasan Sadeghi Moghadam.
The Treasury’s Office of Foreign Assets Control updated a Foreign Narcotics Kingpin Designation Act entry on its Specially Designated Nationals List, according to a Feb. 19 notice. The update adds an address and identifying information for Inversiones Continental, a Panamanian holding company sanctioned in 2015 for money laundering and drug trafficking.
The Treasury’s Office of Foreign Assets Control released a report Feb. 19 on licensing activities for certain exports to Iran and Sudan during the second quarter of fiscal year 2019. The report provides licensing statistics for exports of agricultural goods, medicine and medical devices to both countries as required by the Trade Sanctions Reform and Export Enhancement Act of 2000.
The Treasury’s Office of Foreign Assets Control sanctioned a subsidiary of Rosneft Oil Company and designated its president for supporting the Nicolas Maduro-led regime in Venezuela, Treasury said Feb. 18. OFAC also issued a new general license and two new frequently asked questions that address the “significance” of the designations and clarifies the wind-down period.
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The Treasury’s Office of Foreign Assets Control removed more than 30 terrorism-related entries from its Specially Designated Nationals List, according to a Feb. 12 notice. The entries include entities relating to Al-Barakat, which was sanctioned by OFAC in 2001. Treasury did not immediately release more information.
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The Treasury’s Office of Foreign Assets Control added Venezuela’s state-owned airline and its fleet of more than 35 aircrafts to its Specially Designated Nationals List, Treasury said in a Feb. 7 press release. The airline, Consorcio Venezolano de Industrias Aeronáuticas y Servicios Aereos, S.A., and its fleet have been sanctioned since August as part of a U.S. executive order to block Venezuelan government property, Treasury said. Treasury added the airline and its fleet to the SDN list to “ensure strengthened compliance with U.S. sanctions.”
The Treasury’s Office of Foreign Assets Control issued regulations to implement its Mali sanctions regime, OFAC said in Feb. 6 notices on its website and in the Federal Register. The regulations, which take effect Feb. 7, will be supplemented with a “more comprehensive set of regulations,” which may include more guidance, general licenses and licensing policy information, OFAC said. The regulations stem from a July executive order that gave the Treasury and State departments authority to block property belonging to people involved in terrorist activities in Mali (see 1907290014).