The Office of Foreign Assets Control last week sanctioned Marshall Islands-registered shipping company Vishnu Inc. and its ship, the Lady Sofia, for their involvement in illegally shipping Iranian commodities to China. OFAC said the vessel recently transferred cargo while at sea to another sanctioned ship, the Mehle, which is currently traveling to China with the Iranian goods.
A trade association representing ASML, Applied Materials and other major semiconductor companies called on the EU to keep any new export controls narrowly targeted and abandon its plans for an outbound investment screening mechanism, saying new restrictions would be a “major interference” for the chip industry. It also cautioned European lawmakers about introducing new supply chain reporting obligations that would place too big a burden on industry.
The EU should impose more sanctions against Venezuela for the Nicolas Maduro regime’s attacks against civil society and political opposition figures, the European Parliament said in a resolution this week. The resolution, approved 497-22, with 27 abstentions, said the bloc should increase sanctions on “high-level officials, members of the security forces, members of the regime’s Supreme Tribunal of Justice and Maduro himself” for their role in “imprisoning hundreds of political prisoners.”
The EU on March 13 removed 12 names from its Russian sanctions regime, including nine Russian political and military figures who have died. The three living de-listed people are Arkady Volozh, a Russian businessman and co-founder of internet company Yandex; Serguey Mndoiants, vice president of government relations for AFK Sistema; and Jozef Hambalek, president of the European wing of the Night Wolves motorcycle club. The EU also amended the entries for 97 people and nine entities.
The European Council and European Parliament reached a provisional deal March 14 to update the rules on the "import, export and transit of firearms into and from the EU," the council announced. The rules seek to close loopholes for firearms trafficking while boosting trade of firearms for "legitimate purposes," the council said.
Four House subcommittee chairmen have asked the Biden administration to describe how Iran has spent money that was made available to the country through a recent U.S. sanctions waiver.
Rep. Jim Banks, R-Ind., introduced a bill March 13 that would impose financial sanctions on people or groups that engage in anti-U.S. "political warfare," such as spreading propaganda, on behalf of a foreign government, especially China’s.
The U.S. on March 14 announced another set of sanctions against Israeli nationals for violence, or threats of violence, against Palestinians in the West Bank. The designations follow President Joe Biden's February executive order authorizing sanctions against people responsible for an increase in violence in the region (see 2402010053).
The Office of Foreign Assets Control this week sanctioned Diego Macedo Goncalves do Carmo, a money launderer for the “most notorious” crime group in Brazil. OFAC said Goncalves has laundered hundreds of millions of dollars for Brazil-based Primeiro Comando da Capital, which the agency designated in 2021.
A Swiss private banking group agreed to pay about $3.7 million to settle allegations that it violated multiple U.S. sanctions programs, including restrictions against Russia and Cuba. The Office of Foreign Assets Control said EFG International AG, which operates about 40 global subsidiaries, bought and sold securities on behalf of people sanctioned by OFAC.