The Office of Foreign Assets Control has published a group of previously issued general licenses under its Venezuela sanctions. One notice covers general licenses 6, 10 and 11; another notice covers general license 5F; and a third covers general licenses 14 and 15. The full text of each license appears in the respective notice.
The Office of Foreign Assets Control has designated six individuals and three entities connected to Burma’s military regime in conjunction with actions taken by both the U.K. and Canada, according to a Jan. 31 news release. The designations cover individuals and entities that financially support Burma's military regime, which OFAC says has "continued to use violence and oppression to deny the people of Burma the ability to choose their own leaders."
The Office of Foreign Assets Control has designated the leader of a Mexico-based network and two associates for procuring precursor chemicals to manufacture and traffic fentanyl and other synthetic drugs to the U.S., according to a Jan. 30 news release.
The Treasury Department is seeking public comments on an information collection on certain reporting requirements under the financial sanctions regulations for Hezbollah. U.S. financial institutions that maintained a correspondent account or payable-through account for certain foreign financial institutions listed by the Office of Foreign Assets Control must file a report with OFAC that includes “full details on the closing of each such account, and on all transactions processed or executed through the account.” This report must be filed with OFAC within 30 days of the account's closure. Public comments are due March 1.
The Office of Foreign Assets Control this week sanctioned Horacio Manuel Cartes Jara and Hugo Adalberto Velazquez Moreno, the former president and current vice president of Paraguay, respectively, for significant corruption. The agency also sanctioned Tabacos USA Inc., Bebidas USA Inc., Dominicana Acquisition S.A. and Frigorifico Chajha S.A.E. for being owned by Cartes.
The U.S. this week expanded sanctions against Wagner Group and designated people, entities and aircraft linked to the Russian private military company. The designations will "degrade the Russian Federation’s capacity to wage war against Ukraine," the Office of Foreign Assets Control said in a Jan. 26 news release, and target infrastructure that "supports battlefield operations in Ukraine," including weapons producers and administrators of Russian-occupied areas.
The Office of Foreign Assets Control this week designated three people for their financial support of Hezbollah, including Hassan Moukalled and his business CTEX Exchange. OFAC sanctioned Moukalled, a Lebanese money exchanger, and CTEX for working closely with Hezbollah financiers to help the group "establish a presence" in Lebanon's financial system. Moukalled serves as a financial adviser to Hezbollah and does business on behalf of the group, representing it in financial negotiations, the agency said. In addition, OFAC designated Moukalled's two sons, Rayyan and Rani, who OFAC said support their father and his business with Hezbollah.
Jason Prince, former chief counsel at the Treasury Department's Office of Foreign Assets Control, has moved to Crowell & Moring as a partner, the firm announced. He will advise clients on sanctions and export controls imposed on Russia and other nations and parties. During his time at OFAC, Prince "oversaw the legal design of new sanctions measures and led the legal review of all major OFAC enforcement, compliance, licensing, litigation, and regulatory actions," the firm said.
The Office of Foreign Assets Control this week designated Iran’s Islamic Revolutionary Guard Corps Cooperative Foundation along with five of its board members, Iran's deputy minister of intelligence and security, and four senior IRGC commanders.
Sharath Patil, former associate attorney at Diaz Trade Law, has joined the Treasury Department's Office of Foreign Assets Control as a sanctions enforcement officer, according to his LinkedIn page. Before working at Diaz Trade Law, Patil was research director for international trade at the nonprofit advocacy group Public Citizen.