OFAC Updates Week 10/26/20
October 26, 2020
The Office of Foreign Assets Control (OFAC) is amending the Cuban Assets Control Regulations (CACR), 31 C.F.R. Part 515. Their amendments will further implement aspects of the President's foreign policy towards Cuba. The new regulations were published on the Federal Register on October 27, 2020 and will be effective on November 26, 2020. OFAC has also published and updated their frequently asked questions (FAQs) related to Cuba.
OFAC has issued the Iran-Related General License 8A and has updated their Iran-related FAQs in response to the license. Also, OFAC has updated their Specially Designated Nationals and Blocked Persons (SDN) List with counter terrorism and Iran-related designations.
October 28, 2020
OFAC has amended and reissued their Yemen Sanctions Regulations codified at 31 C.F.R. part 552. These new regulations will replace those published on November 9, 2012 with a more comprehensive and inclusive set of guidelines and policies.
October 29, 2020
OFAC has issued General License M, "Authorizing the Exportation of Certain Graduate Level Educational Services and Software" in Iran. Along with this new license OFAC has released a new FAQ. The SDN List has also been updated with Iran-related and counter terrorism designations.
October 30, 2020
OFAC has issued an advisory highlighting sanctions risks related to dealing with high-value artwork transactions with blocked persons. The advisory describes common suspicious transactions and risks associated with high valued art.
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