Insurance giant American International Group agreed to pay the Office of Foreign Assets Control about $149,000 to settle 555 “apparent violations” of OFAC sanctions against Iran, Sudan, and Cuba.
Posts Tagged: Sanctions
The Treasury Department’s Office of Foreign Assets Control published Frequently Asked Questions on President Trump’s Cuba announcement.
The biggest change will be new regulations to end so-called individual people-to-people travel. Group people-to-people travel will still be authorized.… Continue Reading
There are commonalities across the sanction regimes of multilateral development banks (MDB). All have clearly articulated prohibited practices, investigation and sanction procedures, often including an array of possible sanctions and appeals process.… Continue Reading
The Treasury Department’s Office of Foreign Assets Control added five Russians to its list of those sanctioned under the Magnitsky Act for alleged human rights abuses.
The most prominent name on Monday’s list was the Russian government’s chief public investigator, Aleksandr I.… Continue Reading
The Treasury Department’s Office of Foreign Assets Control said Tuesday PanAmerican Seed Co. paid $4.32 million to settle potential civil liability for Iran sanctions violations.
OFAC settled the case without going to court.… Continue Reading
The World Bank’s Office of Suspension and Debarment (OSD) released its latest “Report on Functions, Data and Lessons Learned” this spring. The Report (pdf) provides important insights into the World Bank’s sanctions process.… Continue Reading
The U.S. Department of the Treasury’s Office of Foreign Assets Control amended the Burmese Sanctions Regulations Tuesday to support trade with Burma.
The new regulations will make it easier for U.S.… Continue Reading
The Treasury Department’s Office of Foreign Assets Control published a new set of questions and answers Thursday about the sanctions on Cuba. OFAC’s answers will surprise a lot of people.
President Obama announced a lifting of sanctions in late 2014.… Continue Reading
The U.S. Department of the Treasury’s Office of Foreign Assets Control said Monday it fined Barclays Bank Plc $2.48 million to resolve potential civil liability for 159 apparent violations of the Zimbabwe sanctions regulations.… Continue Reading