The Office of Foreign Assets Control last week sanctioned Russian state-owned shipping company and fleet operator Joint Stock Company Sovcomflot along with 14 of its crude oil tankers. Deputy Treasury Secretary said the designation will deal a “huge blow” to Russia’s shadow fleet operations (see 2303230010), which it uses to try to evade the global price cap on Russian oil.
OFAC sanction activity
The U.S. announced a new set of sweeping Russia-related export controls and sanctions last week to mark the two-year anniversary of Moscow’s invasion of Ukraine and to respond to Russian opposition figure Alexei Navalny's death in prison. The measures include nearly 100 additions to the Commerce Department’s Entity List, more than 500 sanctions designations by the Treasury and State departments and new government guidance, including a new business advisory to warn companies about Russia-related compliance risks.
The Office of Foreign Assets Control this week sanctioned two Russian nationals for their ties to LockBit, a Russia-based ransomware group. The designations target Ivan Gennadievich Kondratiev, a LockBit affiliate and leader of the National Hazard Society, a LockBit affiliate sub-group; and Artur Sungatov, a Lockbit ransomware group affiliate who has “actively engaged in LockBit ransomware attacks,” OFAC said.
The Office of Foreign Assets Control on Feb. 16 issued a new guidance document on U.S. sanctions against Ansarallah, also known as the Houthis, to coincide with sanctions taking effect on the Yemeni group that same day pursuant to its formal addition to the Specially Designated Nationals list.
The Office of Foreign Assets Control is modifying its North Korea sanctions regulations to amend a general license for humanitarian activities carried out by non-governmental organizations in North Korea. The agency also is adding three new general licenses for Commerce Department-authorized transactions, agricultural and medical goods, and some journalistic activities, it said.
The U.S. this week sanctioned four entities and three people for procuring and facilitating the illegal export of “goods and technology from over two dozen U.S. companies” to Iranian end-users, including the Central Bank of Iran.
The Office of Foreign Assets Control this week sanctioned four entities and identified one vessel for violating the price cap on Russian oil. OFAC said they were involved in a “price cap violation scheme” in late 2023 that included making calls at Russian ports.
The Office of Foreign Assets Control this week sanctioned an Ecuadorian gang and its leader for their ties to drug trafficking and violence.
The U.S. last week sanctioned a network of companies in Hong Kong and Iran for supplying materials and sensitive technology for Iran’s ballistic missile and drone programs. OFAC said the companies act as “covert procurement entities” for Iran and have helped the country develop its Shahed-series unmanned aerial vehicles that Iran sends to Russia for its war against Ukraine.
The Office of Foreign Assets Control last week sanctioned six Iranian officials with ties to cyberattacks against the U.S. and other countries. The officials work for Iran’s Iranian Islamic Revolutionary Guard Corps Cyber-Electronic Command (IRGC-CEC), a government organization that carries out the attacks.