<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/the-iran-tsra-brokering-dilemma/"></div>We have recently been called upon by a number of individuals and small businesses to provide counseling and advice on how to comply with regulations administered by theUnited States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) in relation to the export of food, medicine, and medical devices to Iran. We commonly refer […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_
Category : Erich Ferrari
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/uco-bank-and-iranian-oil-a-new-windfall-or-just-a-fall/"></div>UCO Bank, an Indian bank that has gained worldwide notoriety for continuing to handle a large volume of transactions for Iran during a time in which sanctions were being tightened against that country, is now positioning itself for what will happen after sanctions. During the height of the sanctions squeeze UCO has been the beneficiary […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/compass-bank-settles-ofac-violations-for-19125/"></div>Yesterday, the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a settlement with Compass Bank (“Compass”) over an apparent violation of the Sudanese Sanctions Regulations (“SSR”). The particular provisions that were apparently violated were §§ 31 CFR 538.205, a prohibition on exports of services, and 538.206, a prohibition on facilitating […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_excerpt -->&
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/of-great-importance-d-c-circuit-weighs-in-on-heiser-v-islamic-republic-of-iran/"></div>The D.C. Circuit Court of Appeals in the matter of Fran Heiser v. Islamic Republic of Iran has recently ruled that Iranian funds held by major banks pursuant to U.S. sanctions against cannot serve to satisfy a $591 million judgment won by the family of a master sergeant killed in a 1996 attack by Hezbollah, […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/the-iran-job-the-deal-that-isnt-a-deal-yet/"></div>A little less than ten (10) days ago, the Joint Plan of Action which outlined the deal struck between Iran and the West over Iran’s highly disputed nuclear program was announced. As the social media websites lit up with articles about the deal that had been reached, we started getting a flood of calls at […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/case-study-sale-of-shares-in-an-sdn-entity/"></div>Recently, we had an opportunity to successfully represent a private individual who held assets in an Iranian entity obtain a license from the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC). While this is not uncommon, the twist in this case was that the entity was a Specially Designated National (SDN) […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/one-reason-why-foreign-financial-institutions-might-be-blocking-cbis-funds/"></div>For nearly two (2) years, we have received numerous questions regarding amounts frozen in the bank accounts of foreign financial institutions that belong to the Central Bank of Iran (CBI). Typically, these funds which have been frozen are revenues for the purchase of Iranian-origin oil, and the reasons cited for the blocking are U.S. sanctions. […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofac-goes-back-after-caro-quintero/"></div>Rafael Caro Quintero hasn’t been out of jail for three (3) months, and yet the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) is already back on the case. Caro Quintero was designated pursuant to the Foreign Narcotics Trafficking Kingpin Designation Act (“Kingpin Act”) in 2000, making him one of the […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofac-seeks-to-break-up-brothers-circle/"></div>Today, the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced the designation of six (6) individuals and four (4) entities belonging to the Brothers’ Circle, an alleged international criminal organization operating in the Middle East, Africa, and the Americas. OFAC’s designation, made pursuant to Executive Order (E.O.) 13581 and the […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/another-u-s-subsidiary-of-a-foreign-parent-company-leads-to-ofac-penalty/"></div>There is always a lot made of U.S. companies being subjected to liability for sanctions violations for the actions of their foreign subsidiaries. One fairly common occurrence that does not get as much attention, however, is that of foreign companies being subjected to liability for sanctions violations as a result of the activities of their […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_