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Last week's major developments in sanctions - Jul. 26th to Jul. 30th, 2021

Monday, July 26th

- No major development on this day.

Tuesday, July 27th - No major development on this day.

Wednesday, July 28th

- OFAC designated eight individuals and eight entities pursuant to Executive Order 13894 and Executive Order 13572 under its Syria program. (Here, Treasury's press release, Department of State's press release) OFAC also added two individuals to the SDN list under its Global Terrorism program. (Treasury's press release, Department of State's press release)

Thursday, July 29th

- No major development on this day.

Friday, July 30th

- The EU Council added eight individuals to the list of its sanctions targets under its Nicaragua regime. (Here)

- The EU Council adopted a decision which established a new sanctions regime against Lebanon. The new sanctions regime has both travel bans and financial sanctions (asset freezing). The new Decision established several designations grounds for those responsible for undermining democracy or the rule of law in Lebanon. (Here, press release) Please note that no one is targeted under this regime yet. The United States welcomed the EU's move by issuing a statement.

- A federal court in the U.S. rendered a forfeiture judgement against an oil tanker which was seized in March 2020 by the Cambodian authorities. (Here) Based on the DoJ's press release, the oil tanker was involved in ship to ship transfers of petroleum-related products to North Korea.

- OFAC added one individual and one entity to its SDN list pursuant to Global Magnitsky program. The two new targets were added pursuant to the recent developments in Cuba. These Global Magnitsky designations are interesting examples of how different authorities may be used by the U.S. government against a single country. (Here, Treasury's press release, Department of State's press release)

- For the second week in a row a Canadian-Iranian national residing in Canada made some sanctions-related news. A federal grand jury in the District of Columbia returned an indictment today charging a Canadian national with the unlawful export of laboratory equipment from the United States to Iran, through Canada and the United Arab Emirates. (Here)

Recommendations of the week

- This week I would like to recommend UAE's Guidance for Licensed Financial Institutions on the Implementation of Targeted Financial Sanctions. This is a comprehensive yet a brief note about sanctions in the UAE. - Check out this bill introduced a couple of days ago by Sen. Ted Cruz (R-Texas) and others which, if passed, would require the President to impose sanctions against Iran's Supreme Leader and the country's recently "elected" president under the Global Magnitsky program. (Here)


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