The Office of Foreign Assets Control issued Russia-related general licenses 7A, 26A, 31 and 32 on May 5. The licenses allow emergency overflight and landings of U.S. aircraft in Russia and the filing and prosecution of infringement of various intellectual property protection, as well as the wind-down of transactions with Amsterdam Trade Bank NV and Sberbank subsidiaries through 12:01 a.m. EDT July 12. OFAC also published one new frequently asked question on Afghanistan-related sanctions and updated one FAQ on Ukraine-/Russia-related sanctions.
Peter Quinter, former customs and international trade attorney at GrayRobinson, joined Gunster as the leader of its Customs and International Trade Law Group, Quinter said in a post on his LinkedIn account. Quinter advises on issues involving investigations by the Commerce Department's Bureau of Industry and Security, the Treasury's Office of Foreign Assets Control and the State Department's Directorate of Defense Trade Controls. Before entering private practice, Quinter served as counsel at the Southeast Regional Headquarters of the U.S. Customs Service.
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The Office of Foreign Assets Control has issued Russia-related sanctions General Licence 30. The license authorizes transactions involving new debt or new equity with Gazprom Germania through 12:01 a.m. EDT pn Sept. 30. Prior to the license, Directive 3 had blocked new debt and equity transactions with Gazprom-related entities, and several other Russian financial institutions, after March 26.
The Office of Foreign Assets Control amended and reissued its Ukraine-related sanctions regulations, the agency said in a final rule. The action will replace the regulations first published on May 8, 2014, with a more “comprehensive” set of regulations, which includes more information on general licenses and other “regulatory provisions that will provide further guidance to the public," OFAC said. The rule, effective May 2, also changes the title of the regulations to the Ukraine-/Russia-Related Sanctions Regulations and incorporates four directives related to sectoral sanctions, among other revisions. OFAC also revised several frequently asked questions for the regulations.
Toll Group Holdings, the Australian international logistics company fined earlier this week for sanctions violations, takes "compliance seriously” and has “acted to keep this from happening again," managing director Thomas Knudsen said in an April 25 email. The company's $6.13 million settlement with the Office of Foreign Assets Control covered liability for nearly 3,000 violations of several U.S. sanctions programs, including illegal payments connected to sea, air and rail shipments through multiple highly sanctioned countries, including North Korea, Iran and Syria (see 2204250015).
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The Treasury Department's Office of Foreign Assets Control announced two new Ukraine-/Russia-related general licenses. Ukraine General Licenses 13R and 15L authorize divestment of, and transferring assets from, the GAZ Group to non-U.S. persons and the winding down of operations with GAZ Group by May 25.
The Office of Foreign Assets Control fined Toll Holdings, a Melbourne, Australia-based international freight and logistics company, more than $6.13 million for nearly 3,000 violations of multiple U.S. sanctions programs. OFAC said Toll received illegal payments connected to sea, air and rail shipments through multiple highly sanctioned countries, including North Korea, Iran and Syria. The transactions included sanctioned Iranian airline Mahan Air (see 2111190006) and Iran-based Hafiz Darya Shipping Lines.
The Office of Foreign Assets Control on April 22 updated the entry for North Korean cyber-criminal group Lazarus Group. OFAC updated the Lazarus Group entry to include "three additional virtual currency wallet addresses" linked to the entity, an agency spokesperson said April 22. "Identification of these wallets will make clear to other VC actors that by transacting with them, they risk exposure to U.S. sanctions," the spokesperson said.