top of page

OFAC Updates Week 10/19/20

  • Writer: clarkespositolaw
    clarkespositolaw
  • Oct 26, 2020
  • 1 min read

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:


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:

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:


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:


Have questions related to anything you've read above? Feel free to connect with us using the Contact form at the bottom of the Home page.

Comments


How can we be of help?

New York Office:

211 E. 43rd Street, 7th Floor

New York, NY 10017

Connecticut Office:

9 Mott Ave., Suite 210

Norwalk,  CT 06850

917.546.6997

Stay Connected. Subscribe.

Thanks for subscribing!

  • YouTube
  • Instagram
  • LinkedIn
  • Facebook

Per The NY State Attorney Ethics Rules, See The Following Statement:

 

Attorney Advertising Disclaimer: The content of this website has been prepared by the Clark-Esposito Law Firm, P.C. for informational purposes only and should not be construed as legal advice. The material posted on this website is not intended to create, and receipt of it does not constitute, a lawyer-client relationship, and readers should not act upon it without seeking professional legal counsel. The Clark-Esposito Law Firm, P.C., did not produce and is not responsible for the content of off-site legal resources. The materials on this site may constitute advertising under various state ethics rules.

NYC, NYS, & PANYNJ M/WBE Certified Minority/Women Owned and Led Business

© 2025 by Clark-Esposito Law Firm, P.C.

bottom of page