The Stamford, Connecticut-based shipowner agreed to pay a $1,125,000 civil penalty to the U.S. Treasury Department’s Office of Foreign Assets Control for Burma sanctions violations.
Treasury Secretary Steven Mnuchin said the Iranian metals industry generates billions of dollars for the regime, contributing to its nuclear weapons program.
A bipartisan group of U.S. House and Senate lawmakers see export controls as a means to punish those Chinese officials and companies involved in human rights abuses in western China and Hong Kong.
Experts say reversal of penalty related to U.S. Treasury Department’s Office of Foreign Assets Control won’t hinder its broader enforcement activities.
Limited prohibitions of certain American-made technology exports and financial transactions are currently in place for the Middle East country rebuilding from 20 years of war.
Aivars Lembergs resigned as chairman of Vetspils Freeport Authority on Dec. 10, the day after the U.S. sanctioned the port authority for its connection to the Latvian oligarch.
The Office of Foreign Assets Control has added the son of Nicaraguan President Daniel Ortega to the Specially Designated Nationals and Blocked Persons List.
The Treasury Department’s Office of Foreign Assets Control warns U.S. companies to exercise due diligence against entanglements with sanctioned transportation services providers.
Office of Foreign Assets Control adds Try Pheap and 11 of his companies to the Specially Designated Nationals and Blocked Persons List.
The Treasury Department agency is closely monitoring vessel name changes used by Venezuelan and Cuban authorities to sidestep U.S. trade sanctions.
The Office of Foreign Assets Control places subsidiary to Cuban state-run oil shipper, Corporacion Panamericana, on blacklist for circumventing sanctions against Venezuela’s oil sector.
For two years the software company’s sanctions screening failed to detect a Slovenian app store developer and its owner who were placed on the Specially Designated Nationals and Blocked Persons List.
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.
“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 afoul of sanctions,” Treasury Secretary Steven Mnuchin said.
The Trump administration said the Turkish government satisfied the five-day ceasefire commitment in northern Syria.
The Southern African country’s political leadership established the national holiday to protest longtime U.S. economic sanctions.
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.
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, Petrόleos de Venezuela S.A.
Turkey has the next five days to maintain the ceasefire against Syrian and Kurdish forces before the U.S. sanctions are removed.
Moving billions of dollars in coins and currency around the U.S. is a precise operation, but it doesn’t always go as planned.
