The SEC should ban sanctioned Chinese companies from being included in indices, exchange-traded funds (ETFs) and other index funds in U.S. capital markets, the Coalition for a Prosperous America said. The nonprofit group said index providers fail to “consider material risks posed by U.S. national security threats” when they evaluate companies, including whether they are listed under a U.S. sanctions regime or designated on the Commerce Department’s Entity List. “These gaps in oversight and due diligence are afflicting index funds held by scores of millions of unwitting American retail investors -- often through their pension funds -- and elevating the material risks in a manner inconsistent with their proper fiduciary duty," CPA wrote to the SEC in a letter released Jan. 5.
The Office of Foreign Assets Control on Jan. 5 sanctioned Milorad Dodik, a member of the Presidency of Bosnia and Herzegovina, and an entity he controls, Alternativna Televizija d.o.o. Banja Luka (ATV), for “destabilizing” activity and corruption. The agency said Dodik uses the ATV a media outlet to “advance his own personal and political goals” and has “funneled money directly from public companies to ATV for corrupt purposes.” OFAC said the designation is the first issued under President Joe Biden’s June executive order that expanded the U.S.’s sanctions authority for people and entities in the Western Balkans (see 2106090030).
The U.N. Security Council on Dec. 29 amended 62 entries on its ISIL (Da’esh) and al-Qaida sanctions list. The changes include “technical amendments” to identifying information for each of the entries.
The Office of Foreign Assets Control on Dec. 30 deleted a range of entries designated under its counter-narcotics, Cuba and Kingpin Act sanctions. The now-deleted entries are for people and entities located in Colombia, Panama and Mexico. OFAC didn’t immediately provide more information.
The U.S. began its eighth round of talks this week about rejoining the Joint Comprehensive Plan of Action, but it’s still soon to tell whether Iran has returned with a “more constructive approach to this round,” a State Department spokesperson said Dec. 28. The State Department earlier this month said both sides remained far apart on a range of sanctions issues (see 2112200009). “At a minimum, any progress, we believe, is falling short of Iran’s accelerating nuclear steps and is far too slow,” the spokesperson said. “As we’ve said before, this can’t continue or it will soon be too late to return to mutual compliance with the JCPOA, something we have sincerely and steadfastly sought to do for a number of months now.”
The U.S. Navy last week seized ammunition and weapons on board a vessel likely traveling from Iran to Yemen, the State Department said. The shipment likely violated a U.N. arms embargo because it was on a ship traveling a route “historically used to illegally smuggle weapons” to the Houthis in Yemen, the agency said, noting Iran’s support for the Houthis and other armed groups in the region “threatens international and regional security.” The U.S. said it has seized “dozens” of missiles, thousands of assault rifles and hundreds of machine guns and grenade launchers on similar vessels this year.
The U.N. Security Council Dec. 21 added two new entries to its sanctions list. The UNSC added Sanaullah Ghafari to its ISIL (Da’esh) and al-Qaida Sanctions List and sanctioned Ali Darassa under the Central African Republic. Ghafari is the leader of the Islamic State of Iraq and the Levant-Khorasan group, the UNSC said, and Darassa leads the CAR-based militia group Unite pour la Paix en Centrafrique (Union for Peace in the CAR). Both were also sanctioned by the United Kingdom (see 2112220024).
The Treasury Department’s new “dangerous” humanitarian-related general licenses for Afghanistan lack oversight and could empower the Taliban, said Rep. Michael McCaul of Texas, the top Republican on the House Foreign Affairs Committee. McCaul said the licenses are “broad sanctions carveouts” that could “reward, legitimize and enable the same Taliban that took power by force and has shown no interest in abiding by international norms.”
The Treasury Department amended the Weapons of Mass Destruction Trade Control Regulations with several technical changes, the agency said in a Federal Register notice. The changes, effective Dec. 27, removed appendix 1 from the regulations, which lists people who contribute to foreign countries’ efforts to develop and stockpile weapons of mass destruction. OFAC also amended certain definitions to reflect the removal of appendix I and made other “technical edits.”
The Office of Foreign Assets Control on Dec. 22 sanctioned three people and two entities for operating a Brazil-based support network for al-Qaida. The designations target Haytham Ahmad Shukri Ahmad Al-Maghrabi, Mohamed Sherif Mohamed Mohamed Awadd, Ahmad Al-Khatib and two companies: Home Elegance Comercio de Moveis Eireli and Enterprise Comercio de Moveis e Intermediacao de Negocios Eireli.