OFAC Updates Week 4/19/21
April 19, 2021
The Office of Foreign Assets Control (OFAC) has revoked Belarus General License 2G and has replaced it with Belarus General License 2H. General License 2H, "Authorizing the Wind Down of Transactions Involving Certain Blocked Entities," authorizes a 45-day wind down period for certain transactions involving nine sanctioned Belorussian state-owned and affiliated entities.
OFAC has reached a settlement of $435,003 with Alliance Steel, Inc. for potential civil liability in 61 apparent violations. Between 2013 and 2018 Alliance knowingly imported engineering services from Tehran, Iran. OFAC has called special attention to the fact that multiple members of Alliance's senior management were clearly aware of the transactions.
April 21, 2021
OFAC has updated their Specially Designated Nationals and Blocked Persons (SDN) List with Burma-related designations while also effecting multiple removals related to the Kingpin Act. There were 15 removals of designations from Panama.
April 23, 2021
OFAC has updated their SDN List with the removal of past Kingpin Act designations. OFAC removed 46 entries from the SDN that were all based in or substantially connected to Mexico.
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