Monday, August 9th
- OFSI first added one person to its list of sanctions targets (here) and then expanded the scope of the Belarus sanctions regime by introducing sectoral sanctions. (Here and here)
- The U.S. President issued a new executive order which expanded the designation grounds in the Belarus program. One of the new grounds is operating in a number sectors in Belarus. Concurrently, OFAC added several individuals and entities to the SDN list of the treasury, issued General License 4 authorizing the wind down of transactions Involving Belaruskali OAO through December 8, 2021, and issued three FAQs explaining these recent changes. (Here, Department of State's press release)
- In an export control related development, the U.S. Department of State published a settlement agreement with Keysight Technologies, Inc. for alleged violations of the Arms Export Control Act and the International Traffic in Arms Regulations. (Here)
Tuesday, August 10th - In an AML-related development, the Financial Crimes Enforcement Network (FinCEN) has imposed a civil money penalty in the amount of $100 million against BitMEX, a convertible virtual currency derivatives exchanges, for violations of the Bank Secrecy Act (BSA) and FinCEN’s implementing regulations. (Here)
Wednesday, August 11th
- OFAC and Department of Commerce Bureau of Industry and Security issued a fact sheet highlighting the existing exemptions and authorizations pertinent to supporting the Cuban people through the provision of certain internet and related telecommunications services. (Here)
Thursday, August 12th
- OFSI removed one entry related to Syria, added four entries related to Belarus, and amended two related to its Global Anti-corruption.
Friday, August 13th
- OFAC added one individual, who was helping Iran to sell its oil, four entities related to that person, 2 Cuban military and security leaders, and a unit in the Cuban Ministry of Revolutionary Armed Forces to the SDN list. (Here, Treasury press release for Iran, Department of State's press release related to Iran, Department of State's press release related to Cuba)
Recommendation of the week
- This week, I would like to recommend a webinar on Wednesday 25 which will be presented by the Sanctions Unit of the UK's Foreign, Commonwealth and Development Office about the new sanctions on Belarus. (Here)
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