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Recent news from Treasury’s Office of Foreign Assets Control: August 10

OFAC took a variety of considerable sanctions actions over the recently throughout several programs:

Russia-associated Sanctions

  • OFAC Issues General License 13F: OFAC on Aug. 10 provided Russia-associated General License 13F to license through Nov. 8, 2023 particular deals restricted by Directive 4 under Executive Order 14024, Prohibitions Related to Transactions Involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, and the Ministry of Finance of the Russian Federation, supplied such deals are normally event and needed to the daily operations in the Russian Federation of such U.S. individuals or entities. Read more.

Belarus-associated Sanctions

  • OFAC Expands Sanctions on Belarusian Regime: OFAC on Aug. 9 designated 8 people and 5 entities, and determined one airplane as obstructed residential or commercial property. OFAC’s action is the U.S. federal government’s action to the three-year anniversary of the Belarusian authorities’ falsification of the August 2020 governmental election and their federal government’s crackdown on the Belarusian demonstration motion. The people and entities OFAC is targeting consist of 3 state-owned business, the director and a subsidiary of among the SOEs, one federal government of Belarus firm and 4 of its workers, 3 people helping with sanctions evasion in assistance of Lukashenka’s program, and one airplane determined as obstructed residential or commercial property. OFAC’s action is brought with the United States’ partners and allies, even more highlighting the merged view that Belarus’s extended subjugation of its individuals and its ongoing assistance of Russia’s war versus Ukraine stay a worldwide issue. Read more.
  • Related to this action, OFAC provided Belarus General License 8 “Authorizing the Wind Down of Transactions Involving Joint Stock Company Byelorussian Steel Works Management Company of Holding Byelorussian Metallurgical Company” and Belarus General License 9 “Authorizing Transactions Related to Civil Aviation Safety or the Wind Down of Transactions Involving Open Joint Stock Company Belavia Belarusian Airlines”.

Syria-associated Sanctions

Corruption and Human Rights Abuse Designations

  • OFAC Designates Former Governor of Lebanon’s Central Bank: OFAC, in coordination with the United Kingdom and Canada, designated the previous guv of Lebanon’s reserve bank, Riad Salameh, whose corrupt and illegal actions have actually added to the breakdown of the guideline of law in Lebanon. Salameh abused his position of power to improve himself and his partners by funneling numerous countless dollars through layered shell business to buy European realty. OFAC likewise designated 4 close partners of Salameh, consisting of members of Salameh’s household and his main assistant, who assisted to hide and facilitate this corrupt activity. Read more.

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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