• Deanna Clark-Esposito

OFAC Updates Week 3/15/21



March 14, 2021

The Office of Foreign Assets Control (OFAC) has published two new Frequently Asked Questions (FAQs) related to Xiamoi Corporation and Executive Order (E.O.) 13959. FAQ 880 addresses whether the prohibitions of E.O. 13959 to the Xiamoi Corporation. FAQ 881 addresses whether the prohibitions of E.O. 13959 to the Looking Technology Corp. Corporation.


March 15, 2021

OFAC has announced a settlement with UniControl, Inc,. a Cleveland, Ohio-based company over apparent violations of the Iranian Transactions and Sanctions Regulations. UniControl exported 21 shipments of its goods, including process controls, airflow pressure switches, boiler controls, and other instrumentation, from the US with knowledge or reason to know that the goods were intended to be supplied, transshipped or reexported to Iran. The settlement reached amounted to $216,464.


March 16, 2021

OFAC is amending its regulations in compliance with the Federal Civil Penalties Inflation Adjustment Act of 1990. The amendment will adjust the maximum amount of the civil monetary penalties assessed under OFAC regulations for inflation. The amendment took effect on March 17, 2021.


March 17, 2021

OFAC has updated their Specially Designated Nationals and Blocked Persons (SDN) list with Hong Kong-related designations. OFAC has designated twenty-four individuals, all of which are officials in the Chinese government.


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