OFAC Updates Week 1/10/22
January 10, 2022
The Office of Foreign Asset Control (OFAC) has updated their Specially Designated Nationals and Blocked Persons (SDN) List with Nicaragua-related designations. The six designations were placed upon Nicaraguan individuals.
January 11, 2022
OFAC has teached a settlement agreement with Sojitz (Hong Kong) Limited of $5,228,298 to settle its potencial civil liability for apparent violaitons of the Itanian Transactions and Sanctions Regulations. Sojitz HK, a offshore trading and cross-border trade financing company, made U.S. dollar payments through U.S. financial institions for Iranian origin high density polyethylene resin from its bank in Hong Kong to the supplier's banks in Thailand. OFAC determined that the apparent violations were non-egrious as Sojitz HK voluntarily self-disclosed and took appropriate remedial action.
January 12, 2022
OFAC has updated its SDN list with non-proliferation designations. These designations consisted of six indivudals from North Korea and a single entity and individual from Russia.
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