Monday, March 11
OFAC imposed blocking sanctions on eight individuals and eight entities that have been acting as financiers and money launderers for al-Shabaab, a terrorist group affiliated with al-Qa’ida, under the U.S. sanctions program against global terrorisms. Simultaneously, OFAC issued a general license to allow the wind-down transactions involving one of the recently sanctioned entities. (Here, Department of Treasury press release, Department of State press release)
OFAC amended the Global Magnitsky Sanctions Regulations with by adding more comprehensive set of regulations that includes additional interpretive guidance and definitions, general licenses, and other regulatory provisions that will provide further guidance to the public. (Here)
Tuesday, March 12
OFAC imposed blocking sanctions on four individuals for supporting Al-Ashtar Brigades, a designated terrorist group, under the U.S. sanctions program against global terrorisms. (Here, the Department of Treasury press release)
Wednesday, March 13
The EU Council adopted decision 2024/847 extending the validity of some of its sanctions under the EU sanctions regime against Russia till September 15, 2024. (Council's Decision, press release)
OFAC imposed blocking sanctions on three individuals under its Balkans-related sanctions program for their efforts to undermine the peace and stability of Bosnia and Herzegovina. (Here, the Department of Treasury press release)
Thursday, March 14
The U.S. Department of State and BIS ramped up export (and import) controls on arms and dual use items to Nicaragua. This client alert explains the changes briefly. (BIS press release, the Department of State press release)
OFAC imposed blocking sanctions against thee individuals and two entities under its recently introduced sanctions program targeting Israeli settlers in the West Bank. OFAC also added imposed blocking sanctions against one individual under its counter narcotics sanctions program. (Here, there was no accompanying press release!)
EFG International AG settles with OFAC for $3,740,442 for apparent violations of multiple sanctions programs. TLDR: EFG, a Switzerland-based financial institution, caused U.S. banks to process transactions related to a sanctioned jurisdiction or sanctioned persons. (Here)
Friday, March 15
OFAC added one entity and one vessel it its SDN list under its global counter terrorism sanctions program for being involved in a ship-to-ship transfer with the recently sanctioned vessel MEHLE for the benefit of IRGC. (Here, Department of Treasury press release, Department of State press release)
Recommendation for the week
This week I would like to recommend a helpful blog that compiles sanctions enforcement actions in the EU. Check it out here.