• Deanna Clark-Esposito

OFAC Updates Week 7/27/20

Updated: Sep 5


July 28, 2020 The Office of Foreign Assets Control (OFAC) has reached a settlement agreement of $824,314 with Whitford Worldwide Company, LLC, after Whitford voluntarily disclosed 74 apparent violations of the Iranian Transactions and Sanctions Regulations. Whitford, a cookware coating manufacturer, sold coatings to subsidiaries that conducted business in Iran. See the Full Notice Below: https://bit.ly/WhitfordOFACViolations


OFAC has updated their Specially Designated Nationals and Blocked Persons (SDN) List with counter-terrorism designations. Each new entry has affiliations with terrorist groups in Iraq.


See the SDN List Below: https://bit.ly/TreasurySDNList


July 29, 2020 OFAC has updated their Specially Designated Nationals and Blocked Persons (SDN) List with Syria-related designations and removals. See the SDN List Below: https://bit.ly/TreasurySDNList July 30, 2020 OFAC has updated their Specially Designated Nationals and Blocked Persons (SDN) List with Cuba-related designations. The designation specifically targeted Havana International Bank with special attention given to an office in London.

See the SDN List Below: https://bit.ly/TreasurySDNList


July 31, 2020

OFAC has issued Global Magnitsky General License 2, "Authorizing Certain Wind Down and Divestment Transactions and Activities Related to Blocked Subsidiaries of the Xinjiang Production and Construction Corps (XPCC)." Alongside this license OFAC has also placed XPCC on the SDN list and updated the Global Magnitsky FAQs.


See the License Below:

https://bit.ly/GlobalMagnitskyGenLicense2


See the FAQs Below:

https://bit.ly/GlobalMagnitskyFAQ


See the SDN List Below

https://bit.ly/TreasurySDNList

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