The Office of Foreign Assets Control on Sept. 2 removed four entries from its Specially Designated Nationals List. Three are Balkans related: Jovan Djogo, Momcilo Krajisnik and Dragan Nikolic. The fourth is Cuba-related, the vessel Hermann. OFAC also revised two Cuba-related entries for the vessels Sand Swan and Tifon. The agency didn’t immediately provide more information on the changes.
The Treasury Department needs to provide significant assurances to banks and non-governmental organizations that they will not be sanctioned for transactions related to humanitarian relief in Afghanistan (see 2108260055), a former sanctions official and an export control official said. Without those assurances, large banks will be unwilling to risk approving transactions to the country because they fear violating U.S. sanctions and potentially large enforcement penalties.
Companies and other entities should remember to file annual reports on blocked property to the Office of Foreign Assets Control (see 2107070005) by Sept. 30, Thompson Hine said in a September alert. The reports should cover property that became blocked July 1, 2020, to June 30, 2021. The alert includes details on the various blocked property reporting requirements and submitting the report to OFAC.
Fenwick & West will open an office in Washington, D.C., adding two partners for the new office, the firm announced on Aug. 31. Thomas Ensign and Melissa Duffy will both serve as partners in Fenwick's Antitrust and Trade Regulation practice. Duffy, who comes from Dechert, "advises on export controls, sanctions, trade policy, programs under the Office of Foreign Assets Control (OFAC), regulation of emerging technologies, digital trade, CFIUS and national security issues involving U.S. agencies," Fenwick said. Ensign is an antitrust adviser on issues including intellectual property agreements, distribution arrangements and joint ventures. Fenwick, which says it concentrates on serving the technology and life sciences industries, has offices in California, New York City, Seattle and Shanghai.
The Office of Foreign Assets Controls is seeking comments on the effectiveness of its licensing procedures for exporting agricultural goods, medicine and medical devices to Sudan and Iran from Oct. 1, 2016, through Sept. 30, 2018, OFAC said Aug. 31. The information gathered by OFAC will be used as part of its biennial report to Congress on its licenses procedures for such exports, and the agency asked commenters to be “as specific as possible.” Comments are due Oct. 1.
The Office of Foreign Assets Control is alerting users of its website and sanctions list data files of upcoming technical changes. The agency is beginning its annual renewal of the public certificate for its website, including its sanctions list downloads, and said its existing certificate will be replaced Sept. 1 at 9 p.m. The process will take about three to six hours, OFAC said. Users may need to update their configuration to trust the renewed certificate “if your application pins or otherwise trusts the serial number of the existing certificate as part [of] your application functionality,” OFAC said. OFAC said all applications should trust the new certificate by Sept. 1 to “prevent loss in functionality.” The notice includes a link to the new certificate and renewing instructions.
A Romanian bank and its U.S. parent company were fined about $860,000 by the Office of Foreign Assets Control for violating U.S. sanctions against Iran and Syria, OFAC said in an enforcement notice. Romania-based First Bank SA processed nearly 100 transactions worth about $3.5 million through U.S. banks on behalf of sanctioned parties, the notice said. The bank continued to process transactions for Iranian customers after it was acquired by U.S.-based JC Flowers in 2018.
The Office of Foreign Assets Control fined the United Kingdom-based Bank of China more than $2.3 million for processing more than 100 transactions that violated then-U.S. sanctions against Sudan, according to an enforcement order. The bank illegally exported financial services from the U.S. when it processed about $40 million worth of transactions through the U.S. financial system on behalf of parties in Sudan, OFAC said Aug. 26.
The Office of Foreign Assets Control extended a general license that authorizes U.S. academic institutions to exports certain “online educational services” and software to Iran, the agency said Aug. 24. General License M-1, which replaces General License M (see 2010290043), was extended through 12:01 a.m. EDT Sept. 1, 2022. The original license was scheduled to expire Sept. 1, 2021.
The Office of Foreign Assets Control on Aug. 24 sanctioned three Paraguayan people and five companies for corruption. The sanctions target Kassem Mohamad Hijazi for controlling a money laundering organization and Khalil Ahmad Hijazi and Liz Paola Doldan Gonzalez for working with Kassem Mohamad Hijazi. OFAC also designated the companies Espana Informatica S.A., Mobile Zone International Import-Export S.R.L., Apolo Informatica S.A., Emprendimientos Inmobiliarios Misiones S.A., and Mundo Informatico Paraguay S.A.