The Office of Foreign Assets Control this week updated a Russia-related entry on its Specially Designated Nationals List. The entry is Hong Kong-based Gold Miles Limited, which was sanctioned in May as part of the Biden administration’s rollout of more than 300 new designations targeting supporters of Russia (see 2305190059). Gold Miles was designated for being owned by Irish national John Desmond Hanafin, founder of a company that OFAC said has helped move Russian money into the United Arab Emirates to protect it from Western sanctions.
The Office of Foreign Assets Control this week sanctioned two North Korean nationals involved in procuring equipment and materials for the country’s ballistic missile program. OFAC said Choe Chol Min, based in Beijing, works with North Korean weapons trading officials, Chinese nationals and others to purchase “a range of items” used to produce missiles. His wife, Choe Un Jong, also based in Beijing, is “officially assigned” to the North Korean Embassy in China and helped coordinate an order for dual-use bearings that are used in the missiles.
The Office of Foreign Assets Control this week renewed three General Licenses, which were scheduled to expire June 17, that expand and clarify humanitarian-related exemptions for shipments and activities related to Syria, Iran and Venezuela (see 2106180015 and 2206100030). OFAC also updated a guidance on providing humanitarian aid to combat COVID-19.
An Iranian car manufacturer is asking a federal court to order the Treasury Department to remove it from a U.S. sanctions list, saying Treasury has “no real intention of rescinding” its designation no matter what evidence it is shown. Bahman Group, which was first sanctioned in 2018, said Treasury continues to “manufacture a pretext” to maintain sanctions against the company despite being provided proof that it’s no longer engaging in sanctionable activities.
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Recent U.S. sanctions against an Iranian procurement network and drug traffickers in Mexico signal a trend within the Biden administration toward using sanctions to target “transnational organized crime,” Herbert Smith said in a June client alert. The firm suggested that companies should make sure their anti-money laundering and “know your customer” procedures are incorporated as “an integral part of sanctions compliance” due to the U.S.'s “increasing sanctions focus on transnational crime and money laundering.”
The Office of Foreign Assets Control will retire its public-facing file transfer protocol (FTP) server next year to comply with updated Treasury Department security policies, the agency announced last week. OFAC said it’s “aware” many people use the server, which will be retired June 10, 2024, to automate their sanctions list data downloads, and is maintaining it for one more year “to allow users sufficient time to develop automation that utilizes the list content hosted on the agency's website.” The agency said users should contact O_F_A_C@treasury.gov for “technical support related to this decision.”
Charlie Steele, former chief counsel at the Treasury Department's Office of Foreign Assets Control during 2019-2020, launched a solo law practice called the Law Office of Charles Steele, the attorney announced on LinkedIn. The firm's work will center on "U.S. economic sanctions matters, including counseling, compliance advice, license applications, enforcement matters, and delisting petitions," along with proceedings involving the Committee on Foreign Investment in the U.S. and national security. Steele added that he will continue his practice at Forensic Risk Alliance, where he has worked as a partner since 2020.
The Office of Foreign Assets Control this week revised 15 entries on its Specially Designated Nationals List. The entries have ties either to the U.S.-sanctioned National Iranian Tanker Company or the Islamic Republic of Iran Shipping Lines. OFAC didn’t release more information.
The Office of Foreign Assets Control this week sanctioned three people and one entity with ties to Mexico’s Cartel de Jalisco Nueva Generacion (CJNG), a sanctions arms trafficking organization. The designations target two senior CJNG members -- Alonso Guerrero Covarrubias and Javier Guerrero Covarrubias -- as well as Mary Cruz Rodriguez Aguirre, who directs a money laundering network on behalf of CJNG using currency exchange house Nacer Agencia Panamericana de Divisas y Centro Cambiario, S.A. de C.V.