The Office of Foreign Assets Control fined Amazon more than $130,000 for violating several U.S. sanctions programs and failing to follow reporting requirements for hundreds of transactions. Amazon processed online orders sent to a range of sanctioned countries in the Middle East and Asia and did not follow the agency’s reporting requirements for more than 300 transactions conducted under a Crimea general license, OFAC said in a July 8 notice. OFAC said the violations were caused by “deficiencies” in Amazon's sanctions screening program.
The Office of Foreign Assets Control July 2 removed sanctions from eight companies and vessels that had been sanctioned for operating in Venezuela's oil sector. The agency also revoked a general license that authorized certain transactions with two of the shipping companies, Marshall Islands-based Delos Voyager Shipping and its Delos Voyager and the Greece-based Romina Maritime and its Euroforce (see 2006180044). OFAC also removed designations from the Delos Voyager and Euroforce, along with the Marshall Islands-flagged vessel Voyager I, Marshall Islands-based Sanibel Shiptrade Ltd. and Adamant Maritime Ltd., and the Bahamas-flagged vessel Seahero, which were sanctioned June 2 (see 2006020024).
The Office of Foreign Assets Control on July 1 issued a reminder to industry to file annual reports on blocked property by Sept. 30. Companies that are “holders of blocked property” must provide OFAC with a list of all blocked property held as of June 30. Property that was unblocked by an OFAC license or was previously blocked by a sanctions program that was terminated before June 30 does not need to be reported, OFAC said. The notice includes a link to the 2020 blocked property report spreadsheet and an updated guidance on filing blocked property reports.
The Office of Foreign Assets Control sanctioned three people, eight entities and two ships for evading U.S. sanctions against Venezuela, according to a June 18 press release. OFAC also issued a general license authorizing certain wind-down activities with two of the sanctioned entities and the two sanctioned ships.
U.S.-China technology competition and the Trump administration’s restrictions on Huawei have likely dashed the prospects of a phase two trade deal, China experts said. The experts also agreed that the phase one purchase agreements are unlikely to be met, even as the U.S. trade representative continues to tout progress on Chinese purchase commitments (see 2005210036).
An aircraft holding company is suing the Treasury Department after the agency blocked a transaction involving the company and an alleged Specially Designated Global Terrorist, according to court records filed June 2. In the lawsuit, Seychelles-registered Askan Holdings, owned by Romania-based Transylvania International Airlines SRL, argued that no sanctioned party was involved in the transaction and said the Treasury’s Office of Foreign Assets Control failed to identify the blocked party or grant Askan a license. Askan is asking a court to order OFAC to grant the license or to stop blocking the transaction.
The Treasury Department’s Office of Foreign Assets Control announced regulations to implement an October executive order authorizing certain Syria-related sanctions, OFAC said in a June 4 notice. The notice includes detailed descriptions of the regulations, including transactions that are blocked, definitions, licensing procedures and penalties for violations. OFAC said it plans to release a “more comprehensive” set of regulations, including potential guidance documents and general licenses. The regulations take effect June 5.
The Treasury’s Office of Foreign Assets Control removed a general license for certain Zimbabwean entities because they are no longer subject to sanctions, according to a notice. The move removes a license that authorized transactions with the Agricultural Development Bank of Zimbabwe and Infrastructure Development Bank of Zimbabwe, both of which were removed from Treasury’s Specially Designated Nationals List in 2016, the notice said. OFAC also updated the “authorities citation” of the Zimbabwe Sanctions regulations “to shorten citations to conform with Federal Register guidance.”
The Commerce Department amended its direct product rule, increasing restrictions on foreign-made chips exported to, and made by, Huawei and its affiliates, the agency said in a May 15 interim final rule. Commerce also said it does not expect to issue another temporary general license extension for the Chinese technology company after its latest 90-day renewal expires Aug. 13.
The Commerce Department announced increased restrictions on foreign-made chips exported to, and made by, Huawei and its affiliates, and said it does not expect to issue another temporary general license extension for the Chinese technology company after its latest 90-day renewal expires Aug. 13.