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Last week's major developments in sanctions - January 15th, 2024, to January 19th, 2024

Monday, January 15
  • OFSI imposed asset-freezing sanctions against Bosnian marketing agency Mania under the UK’s Bosnia and Herzegovina sanctions regime for activity that threatens peace and stability. (Here)

Tuesday, January 16
  • OFAC issued a Venezuela-related General License. The new GL is an identical authorization with a postponed effective date of April 16, 2024. (Here, General License 5N

  • France imposed asset-freezing sanctions on two individuals under France’s autonomous counter-terrorism sanctions regime. (Here)

  • The EU Council imposed asset-freezing sanctions on one individual for involvement with Al-Shabab and Al-Qaeda. (Here, EU Press Release)

  • The EU Council added one individual, the political leader of Hamas, to the EU terror list. (Here, EU Press Release) As a reminder, the EU terror list is a list of individuals and entities targeted by the EU asset-freezing sanctions under the EU's counter-terrorism autonomous sanctions regime.

Wednesday, January 17
  • The U.S. government took action against the Houthis, also known as Ansarallah.

    • The Department of State re-designated the Houthis, as a Specially Designated Global Terrorist Group, effective on February 16, 2024. (Here)

    • OFAC issued five new general licenses related to this designation. (Here, Department of State press release)

    • OFAC issued a Frequently Asked Question regarding this designation. (Here, FAQ)

  • OFAC imposed asset-freezing sanctions on one individual, former Guatemalan President Alejandro Eduardo Giammattei Falla, for his involvement in bribery and corruption. (Here, Department of Treasury press release, Department of State press release)

  • The U.S. Department of State also imposed a visa restriction, a type of sanction, against the former president. (Department of State press release)

Thursday, January 18
  • OFAC imposed asset-freezing sanctions on one entity and 17 vessels for their involvement in violating the Russian oil price cap restrictions. (Here, Department of Treasury press release, Department of State press release) OFAC simultaneously issued Russia-related general license 86 to authorize limited safety and environmental transactions involving certain persons or vessels sanctioned on this day. (General License 86

  • OFAC amended FAQ 1157 with respect to the definitions of the terms of some seafood items. (FAQ 1157)

  • OFAC issued general license 13H under its Russian Harmful Foreign Activities Sanctions Regulations which is identical to general license 13G, except the new general license is valid through April 17, 2024. The general license authorizes certain administrative transactions prohibited by Directive 4 under Executive Order 14024. (General License 13H)

  • A U.S. citizen was arrested for alleged involvement in unlawfully exporting sensitive technology from the U.S. for the benefit of sanctioned Russian businesses with ties to the Russian military. (Here)

  • The Bureau of Industry and Security is conducting a comprehensive assessment of mature-node semiconductor devices in the supply chains that support—directly or indirectly—U.S. national security and critical infrastructure. (Here)

  • A U.S. citizen was sentenced to 24 months in prison for a scheme to unlawfully export heavy equipment to Iran routing shipments through the UAE. (Here)

  • The EU Council and Parliament found provisional agreements on parts of the anti-money laundering package to protect the EU from money laundering and terrorist financing. (Here)

Friday, January 19
  • OFAC is releasing the first video in its “OFAC Basics” video series.  The OFAC Basics: Sanctions List Search video provides viewers with a brief tutorial on using OFAC’s Sanctions List Search Tool and recommended steps for assessing a potential match to one of OFAC’s published sanctions lists.  (Here, OFAC Basics Video)

  • The EU Council established a framework for restrictive measures that will allow the EU to hold accountable any individual or entity that supports, facilitates, or enables violent actions by Hamas and the Palestinian Islamic Jihad (PIJ). (Here, EU Council Press Release)


Recommendations of the Week
  • Last week, the Financial Action Task Force had a panel of public and private sector experts who discussed the findings of the 2023 FATF report on Crowdfunding for Terrorist Financing which highlights the four main ways in which terrorist groups exploit crowdfunding for terrorist financing. You can watch the webinar here.

  • Nasdaq published its 2024 Global Financial Crime Report. You can find the report here: Nasdaq Verafin 2024 Global Financial Crime Report | Nasdaq

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