Office of Foreign Assets Control
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American Shipper
OFAC: Know your equipment lease end-user
The U.S. Treasury Department’s Office of Foreign Assets Control assessed $210,600 civil penalty against Apollo Aviation Group for violating the Sudanese Sanctions Regulations.
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American Shipper
Treasury promises ‘transparency’ for humanitarian aid to Iran
“This new humanitarian mechanism will help international companies that seek to engage in permissible humanitarian trade with Iran to ensure that they do not run…
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American Shipper
President Trump lifts sanctions on Turkey
The Trump administration said the Turkish government satisfied the five-day ceasefire commitment in northern Syria.
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American Shipper
Zimbabwe celebrating Anti-Sanctions Day
The Southern African country’s political leadership established the national holiday to protest longtime U.S. economic sanctions.
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American Shipper
OFAC’s ‘50% rule’ challenges compliance
The Office of Foreign Assets Control policy, which focuses on financial ownership of sanctioned individuals or entities, bedevils U.S. companies with sophisticated compliance programs.
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American Shipper
U.S. continues sanctions break for Swedish refiner with Venezuelan ties
The Office of Foreign Assets Control on Oct. 17 extended the general license for Nynas AB that is 50% owned by Venezuela’s state-owned oil company,…
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American Shipper
US sanctions could be lifted if Turkey’s ceasefire holds
Turkey has the next five days to maintain the ceasefire against Syrian and Kurdish forces before the U.S. sanctions are removed.
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American Shipper
US limits sanctions to Turkish defense, energy ministries
The Trump administration takes aim at financial assets of Turkish government agencies and officials linked to military strikes in Syria, but Congress may legislate broader…
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American Shipper
GE pays $2.7 million fine for Cuban sanctions violations
The U.S. Treasury Department’s Office of Foreign Assets Control said three GE subsidiaries failed to use “reasonable care” by accepting payments from a Cuban entity…
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American Shipper
US sanctions target Russian jet fuel carrier
The Treasury Department’s Office of Foreign Assets Control identified Moscow-based Maritime Assistance LLC as the head of a “sanctions evasion scheme” to deliver jet fuel…
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