The Office of Foreign Assets Control this week issued a reminder to industry to file annual reports on blocked property by Sept. 30 (see 2207010054). The notice applies to blocked property held as of June 30.
The Office of Foreign Assets Control has designated 22 individuals and two entities connected with Russia's war in Ukraine. The designated individuals have furthered Russia's objectives in Ukraine, both before and during the invasion, OFAC said in a Sept. 15 notice. “Today we’re taking steps to further degrade Russia’s ability to rebuild its military, hold perpetrators of violence accountable, and further financially isolate Putin," Treasury Secretary Janet Yellen said in a news release.
The Office of Foreign Assets Control designated one Zimbabwean and removed 11 others from the Specially Designated Nationals List under the Zimbabwe sanctions program, which targets human rights abusers and underminers of democratic processes, according to an OFAC news release.
The Office of Foreign Assets Control on Sept. 15 issued two determinations to restrict certain quantum computing-related activities with Russia. One directive, effective immediately, imposes sanctions on Russia's quantum computing sector. The second directive, which will take effect at 12:01 a.m. EDT on Oct. 15, will prohibit the exportation, reexportation, sale or supply of quantum computing services to Russia. The prohibitions aim to "further degrade Russia’s ability to reconstitute its military with advanced technology," OFAC said.
The Office of Foreign Assets Control sanctioned 10 individuals and two entities for their roles in conducting malicious cyber acts, it said in a Sept. 14 notice. The designations are part of a joint action with the State Department, DOJ, FBI, U.S. Cyber Command, NSA, and the Cybersecurity and Infrastructure Security Agency. The designated individuals and entities are affiliated with Iran’s Islamic Revolutionary Guard Corps (IRGC). OFAC said the action "continues the series of designations that aim to protect U.S. persons from ransomware activity, facilitators of ransomware activity, and other cybercrime."
The Office of Foreign Assets Control on Sept. 13 updated a narcotics-related entity on its Specially Designated Nationals List. The agency updated information for Hassein Eduardo Figueroa Gomez, first sanctioned in 2012 (see 12041305) for ties to a Mexican drug cartel.
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The Office of Foreign Assets Control issued preliminary guidance on the price cap for seaborne Russian oil and related maritime services policy. The G7 confirmed its joint intention for the cap at the Sept. 2 meeting of finance ministers (see 2209020034).
The Office of Foreign Assets Control designated Iran’s Ministry of Intelligence and Security (MOIS) and Intelligence Minister Esmail Khatib for engaging in cyber-enabled activities against the U.S. and its allies, the Treasury Department said in a Sept. 9 news release. OFAC has added Khatib and MOIS to its Specially Designated Nationals (SDN) list.
The Office of Foreign Assets Control recently issued preliminary guidance on the price cap for seaborne Russian oil and related maritime services policy confirmed by the G7 earlier this month. The policy is split into two different service bans with exemptions for oil products purchased below certain price caps. The ban for crude oil will take effect Dec. 5 and for other petroleum products Feb. 5. The coalition has not yet set price points for oil and petroleum products.