• Deanna Clark-Esposito

OFAC Updates Week 10/19/20


October 19, 2020

The Office of Foreign Assets Control (OFAC) has updated their Specially Designated Nationals and Blocked Persons (SDN) List with counter-terrorism and Iran-related designations. These designations included three individuals from China and Australia as well as seven shipping companies related to those individuals.


See the SDN Designations Below:

http://bit.ly/OFACSDNUpdate101920


October 20, 2020

OFAC has reached a settlement of $4,144,651 with Berkshire Hathaway, Inc and its foreign subsidiary Iscar Turkey after the finding of potential civil liabilities for 144 apparent violations go the Iranian Transactions and Sanctions Regulations. Between December 2012 and January 2016, Iscar Turkey exported 144 shipments of cutting tools to two third-party Turkish distributors with knowledge that the tools will be shipped to Iran. Several of the identified end-users were affiliated with the Iranian government. Berkshire voluntarily self-disclosed the apparent violations and OFAC deemed the violations to constitute an egregious case.


See the Full Notice Below:

http://bit.ly/OFACBerkshireSettlementAgreement

October 22, 2020

OFAC has updated their SDN list with designations related to counter-terrorism, foreign interference in U.S. elections, non-proliferation, Syria and Iran. Three individuals from Iran and Lebanon were designated alongside the Islamic Revolutionary Guard Corps (AGIR). The designation of AGIR resulted in secondary designations including a similar affiliate state regulatory force and affiliated institutions.


See the SDN Designations Below:

http://bit.ly/OFACSDNUpdate102220


October 23, 2020

OFAC has updated their SDB list with a Countering America's Adversaries Through Sanctions Act (CAATSA) designation of a Russian institution.


See the CAATSA Designation Below:

http://bit.ly/OFACSDNUpdate102320


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