• Deanna Clark-Esposito

OFAC Updates Week 11/8/21



November 8, 2021

The Office of Foreign Assets Control (OFAC) has updated their Specially Designated Nationals and Blocked Persons (SDN) List with cyber-related designations and updates. Designations were placed on two individuals from Russia and Ukraine while designations were also placed on five entities. There were also two designation updates on an individual and an entity.


November 9, 2021

OFAC has published a Frequently Asked Question (FAQ) related to Syria. FAQ 934, answers whether the United Nations and the U.S. government are permitted to conduct stabilization and early recovery-related activities involving Syria.


OFAC has issued a finding of violation to Mashreqbank psc. Mashreqbank psc is a financial institution headquartered in the United Arab Emirates with a branch in London, United Kingdom. This London branch processed over $4,000,000,000 in transactions that were in violation of the now-repealed Sudan sanctions program.


November 10, 2021

OFAC has placed Global Magnitsky [GLOMAG] designations on two Cambodian individuals.


OFAC has published Cambodia Business Advisory on High-Risk Investments and Interactions. The advisory warns against engaging in business in the financial, real estate, casino and infrastructure sectors in Cambodia. Furthermore, the advisory details the risk of unknowingly associating with individuals involved in human, animal and narcotic trafficking.


November 12, 2021

OFAC has updated their SDN List with Ethiopia-related designations and Kingpin Act designation removals. Six individuals and entities were added to the SDN List while over seventy designations from Latin America were removed. Additionally, OFAC has issued Ethiopia General License 4, Authorizing the Wind Down of Transactions Involving Hydra Trust or Red Sea Trading Corporation. Along with those new general license OFAC has updated FAQ 927 and added the new FAQs 935 and 936.


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 or send us an email at contact@clarkespositolaw.com.


Be sure and check out our OFAC videos as well on our website and on our YouTube page.


0 comments