<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofac-designates-syria-international-islamic-bank/"></div>The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has added Syria International Islamic Bank (SIIB) to their list of Specially Designated Nationals (SDN) pursuant to the Non-Proliferation of Weapons of Mass Destruction (NPWMD) sanctions program. As a result all assets of SIIB under U.S. jurisdiction are blocked and U.S. persons […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter
Category : Erich Ferrari
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/considerations-for-those-seeking-removal-from-the-ofac-sdn-list/"></div>I have been on a roll lately with posts regarding seeking a reconsideration of a designation as a Specially Designated National (SDN) by the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC), so I thought I would continue the trend with some considerations for those seeking to a removal from the […]<!-- 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/ofac-sdntsdntk-removals-ofac-compliance-for-foreign-counsel/"></div>Yesterday, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) removed a number of individuals and entities from the OFAC List of Specially Designated Nationals and Blocked Persons, commonly referred to as the OFAC SDN List, who had be designated as Specially Designated Narcotics Traffickers and Specially Designated Narcotics Trafficking Kingpins. […]<!-- 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/ofac-sdn-reconsiderations-what-ofac-needs-to-see-from-kingpin-and-other-designees/"></div>For those that find themselves on the List of Specially Designated Nationals and Blocked Persons administered by the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC), commonly referred to as the OFAC SDN List, the process to seek removal can be quite frustrating. For one, the process for reconsideration is long […]<!-- 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/whats-the-point-ofac-licensing-vs-ofac-outreach/"></div>Several times over the past few years I have written about the impact that the United States Department of the Treasury’s Office of Foreign Assets Control’s (OFAC) outreach efforts to foreign financial institutions have had on foreign financial institutions refraining from facilitating any transactions with Iran. This includes facilitating funds transfers for transactions between the […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/112500-settlement-for-iran-sanctions-ofac-violations/"></div>Today, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced that Genesis Assets Managers, LLP (GAM) was paying $112,500 to settle apparent violations of the Iranian Transactions Regulations (ITR). In short, GAM a U.S. based firm serving as a investment manager for Genesis Emerging Markets Fund, violated the ITR when […]<!-- 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/president-issues-sanctions-targeting-certain-persons-in-yemen/"></div>On Wednesday, President Obama imposed sanctions against certain parties contributing to the instability in Yemen. Although, no parties were designated pursuant to this new executive order, it gives the Department of Treasury the authority to block those parties presenting a threat to Yemen’s peace, security and stability. In particular, the executive order points to those […]<!-- 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/remediating-ofac-violations/"></div>One of the key general factors in the United States Department of the Treasury’s Office of Foreign Assets Control’s (OFAC) Enforcement Guidelines is General Factor F: Remedial Response. In order to mitigate an OFAC enforcement response concerning an apparent violation of U.S. economic sanctions, the party engaged in the apparent violation should take some type […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofac-updates-cuba-guidelines-on-licensing-for-cuba-travel-for-educational-activities/"></div>On Friday the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) updated its Comprehensive Guidelines for License Applications to Engage in Travel-Related Transactions Involving Cuba (Guidelines). According to the Guidelines, OFAC will provide specific license authorization for travel related transactions directly incident to educational activities involving non-commercial academic research in Cuba, […]<!-- 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/ofac-designates-four-mexican-nationals-under-the-kingpin-act/"></div>Yesterday, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four individuals it believes are materially assisting the activities of a significant foreign narcotics trafficker under the Foreign Narcotics Kingpin Designation Act (Kingpin Act). As a result of these designations the four targeted individuals will have all assets under U.S. […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on