The Treasury’s Office of Foreign Assets Control designated two people and three entities under its North Korean sanctions regulations and added a ship to its Specially Designated Nationals List, Treasury said in an Aug. 30 press release. OFAC designated Taiwan-based Huang Wang Ken and Chen Mei Hsiang and Taiwan-based companies Jui Pang Shipping Co Ltd (Jui Pang) and Jui Zong Ship Management Co Ltd (Jui Zong). OFAC also sanctioned Hong Kong-based Jui Cheng Shipping Company Limited and added Shang Yuan Bao, a ship, to its SDN List.
OFAC sanction activity
the Treasury's Office of Foreign Assets Control sanctioned four people and four companies for helping to move money between Iran’s Islamic Revolutionary Guard Corp-Qods Force and the operational arm for Hamas, Treasury said Aug. 29. OFAC designated Muhammad Sarur, Kamal Abdelrahman Aref Awad, Fawaz Mahmud Ali Nasser, Muhammad Kamal al-Ayy and four Lebanon-based entities: Jammal Trust Bank, Trust Insurance, Trust Insurance Services and Trust Life Insurance Company.
The Treasury’s Office of Foreign Assets Control sanctioned five entities and five people for their involvement in procurement networks for Iran’s military, Treasury said in an Aug. 28 press release. The sanctions target two major networks led by Iranian nationals Hamed Dehghan and Seyed Hossein Shariat.
ExxonMobil is requesting that a court vacate a $2 million penalty imposed by the Office of Foreign Assets Control for doing business with Rosneft, a Russian oil company, according to a brief filed Aug. 26 with the U.S. District Court for the Northern District of Texas.
Export Compliance Daily is providing readers with some of the top stories for Aug. 19-23 in case they were missed.
U.S. and foreign companies have “struggled” to interpret the scope of the U.S.’s most recent executive order and subsequent general licenses for Venezuela, leading some to submit requests for more guidance, according to an Aug. 22 post on the Winston & Strawn website.
The Treasury’s Office of Foreign Assets Control announced sanctions on three Chinese citizens and two Chinese entities for drug trafficking, Treasury said in an Aug. 21 press release. OFAC designated Fujing Zheng and his company, Shanghai-based Zheng Drug Trafficking Organization (Zheng DTO), under the Foreign Narcotics Kingpin Designation Act. OFAC also sanctioned Xiaobing Yan for being a drug trafficker, Guanghua Zheng for supporting Zheng DTO and Shanghai-based Qinsheng Pharmaceutical Co. Ltd., for being owned by Zheng.
The Treasury’s Office of Foreign Assets Control released its Biennial Report on Licensing Activities detailing license applications the agency processed for authorization to export to Iran and Sudan. The Aug. 19 report, which covers OFAC actions from October 2014 to September 2016, is mandated by the Trade Sanctions Reform and Export Enhancement Act of 2000 and covers OFAC applications that request permission to export “agricultural commodities, medicine and medical devices” to Iran and Sudan. The report includes the number of applications OFAC received, issued and denied. OFAC requested public comments on the TSRA’s licensing procedures in 2018 and said it received one comment that pointed to the “difficulties in using the financial mechanisms in place for making payments related to transactions” under the TSRA.
The Treasury’s Office of Foreign Assets Control sanctioned a Dominican Republic-based drug trafficking organization, its owner, supporters and several businesses run by the organization’s owner, Treasury said in an Aug. 20 press release. The sanctions include designations under the Foreign Narcotics Kingpin Designation Act against the Peralta Drug Trafficking Organization, Dominican national Cesar Emilio Peralta, and eight more Dominican nationals for supporting the organization and nightclubs owned by Peralta.
Export Compliance Daily is providing readers with some of the top stories for Aug. 12-16 in case they were missed.