• Deanna Clark-Esposito

OFAC Updates Week 6/29/20

Updated: Sep 5


July 1, 2020

The US Departments of State, Commerce, Homeland Security and Treasury issued a joint advisory to warn U.S. supply chain businesses of possible exposure to human rights abuses due to conditions with entities in Xinjiang. The detailed memo gave indicators of signs of forced labor and labor abuses generally while also detailing the conditions in Xinjiang. The memo is a thorough resource for the production industry in Xinjiang and is highly informative about the processes relating to discovering labor abuses in the supply chain process.


See Below:

https://bit.ly/XinjiangLaborAbuseWarning


The Office of Foreign Assets Control (OFAC) has sent a reminder to businesses to file their 2020 Annual Report of Blocked Property if they are in possession of blocked property. OFAC has set a deadline of September 30, 2020 for any businesses in possession of blocked property as of June 30, 2020 to file their report in accordance with the Reporting, Procedures and Penalties Regulations.


See Below:

https://bit.ly/2020BlockingReportGuidance


July 2, 2020

OFAC has updated its Specially Designated Nationals and Blocked Persons (SDN) list with Venezuela related designations. Alongside this update OFAC has also revoked Venezuela related General License 37 which authorized the "Wind Down of Transactions Involving Delos Voyager Shipping Ltd, Romina Maritime Co Inc, and Certain Vessels."


See the SDN List Below:

https://bit.ly/TreasurySDNList


See the General License Below:

https://bit.ly/VenezuelaGenLicense37


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