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Last week's major developments in sanctions - Sept. 6th to Sept. 10th, 2021

Monday, September 6th

- The week started with the addition of seven individuals to the French list of sanctions targets pursuant to the anti-terrorism regime of the country. (Here)

- Security Council ISIL (Da’esh) and Al-Qaida Sanctions Committee removed an individual from Its Sanctions List. (Here)

Tuesday, September 7th - No major event on this day.

Wednesday, September 8th

- The Office of Foreign Assets Control has released its 2020 Terrorist Assets Report. (Here)

- Security Council Sanctions Committee concerning Iraq Removes 28 Entries from Its Sanctions List. (Here)

Thursday, September 9th

- OFAC published a notice of a settlement with a U.S. company, NewTek, for its sales to Iran. NewTek knew or had reason to know that its products and services were being sold in Iran by distributors outside of the U.S. One of the customers of the NewTek products was Iran State TV which is a listed entity. Interestingly, I think for the first time, the OFAC web notice mentioned the amount of profit made out of the transactions in apparent violation of sanctions. (Here)

Friday, September 10th

- In an administrative move, the EU Council extended the sanctions imposed against those involved in annexation of Crimea region for another six months. (Here)

- OFAC issued General License 5H which again postponed the effectiveness date of the License, this time to Jan. 21, 2022. Till then all transactions related to, the provision of financing for, and other dealings in the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond will not be authorized. (Here)

Recommendations of the week

- This week I would like to recommend a great short publication of the Congressional Research Service about the U.S. sanctions on Russia. (Here)


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