The Treasury Department’s Office of Foreign Assets Control made changes to the Specially Designated Nationals list on Dec. 17 over Syria-related violations (here). OFAC followed that up with a batch of counter-terrorism and counter-narcotics sanctions on Dec. 18 (here).
The Treasury Department’s Office of Foreign Assets Control authorized a significant increase in agricultural and medical export licenses to Iran and Sudan in the second quarter of fiscal year 2014 when compared to the previous quarter's figures. OFAC approved 160 export licenses in the second quarter, denied five and acted in other ways on nearly 130 other applications. The agency did not hit the 100 mark in the first quarter of FY14 (see 1410270062). The vast majority of OFAC second quarter approvals, 126 in total, authorized medical device exports, with 21 agricultural approvals and 13 medicine approvals. All five denials sought medical device export authorization. Nearly 140 approvals allow exports to Iran, while the remainder were for Sudan.
The sanctions relief deal struck between Iran and P5+1 countries will be extended through June 30, 2015, said the Treasury Department’s Office of Foreign Assets Control (OFAC) (here). The P5+1 countries include the U.S., Russia, China, United Kingdom, France and Germany. The sanctions relief was originally set to expire on Nov. 24. The relief liberalizes restrictions on Iranian exports of petrochemical products, Iran’s purchase and sale of gold and precious metals, the provision of goods and services to Iran’s automotive sector, and the licensing of safety-of-flight inspections and repairs for Iranian civil aviation, and establishes channels to permit importation of humanitarian goods (see 14012715).
OFAC deleted the following entries from the Specially Designated Nationals (SDN) list on Nov. 26 (all from Saudi Arabia) (here):
The Treasury Department’s Office of Foreign Assets Control added Colombian individuals and entities to the Specially Designated Nationals list on Nov. 19 (here).
The Treasury Department settled a case with ESCO Corporation over violations of the Cuban Assets Control Regulations involving the purchase of Cuban-origin nickel between 2007 and 2010, Treasury’s Office of Foreign Assets Control announced on Nov. 13 (here). An ESCO subsidiary allegedly purchased the nickel in “large-volume and high-value transactions,” and ESCO agreed to pay $2,057,540, said OFAC. ESCO has now strengthened its OFAC compliance program, OFAC said.
The Treasury Department’s Office of Foreign Assets Control added individuals and entity to the
Specially Designated Nationals list, and also deleted several entries.
The following Colombian individuals have been added to OFAC’s SDN List (here):
• Perez Ocampo, German Alberto (Colombia)
• Perez Ocampo, Santiago (Colombia)
The following Yemeni individuals have been added to OFAC’s SDN List (here):
• Al Hakim, Abdullah Yahya (Yemen)
• Al-Huthi, Abd Al-Khaliq (Yemen)
• Saleh, Ali Abdullah (Yemen)
The following Colombia entity has been made to OFAC’s SDN List (here):
• Compra Venta Gerpez (Colombia)
The following deletions have been added to OFAC’s SDN List (here):
• Gomez Rua, Adolfo Leon (Colombia)
• Dolautos Vehiculos E Inmuebles Y Cia (Colombia)
• Taller Ramiautos I.P. (Colombia)
• Digital Comunications Service (Colombia
• Guberek Reyes, David Felipe (Colombia)
• Florez Grajales, Yudy Lorena (Colombia)
• Florez Grajales, Yudi Lorena (Colombia)
• Fiorillo Baptiste, Lester Raul (Colombia)
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The Treasury Department granted 99 licenses for U.S. agriculture and medical exports to Iran and Sudan, two of the primary countries the Obama administration continues to sanction, in the fourth quarter of calendar year 2013, that agency’s Office of Foreign Assets Control said in recent days (here). OFAC authorizes some U.S. exports of food products, medicine and medical devices under the Trade Sanctions Reform and Export Enforcement Act of 2000. From Oct. 1 through Dec. 31, 2013, OFAC also denied one license, although OFAC didn’t give details on that application. OFAC processed dozens of license amendments and “return-without-action” notices in that time period. The 99 licenses OFAC approved included 18 for agricultural commodities, nine for medicine and 72 for medical devices. Eighty-one out of the 99 licenses authorized shipments to Iran, and the other 18 authorized trade to Sudan. The average wait time for a license approval is 59 business days, while a denial takes on average 160 business days, OFAC said.
The Treasury Department’s Office of Foreign Assets Control added individuals to the Specially Designated Nationals list on Oct. 21, and also deleted two dozen entries.
The Treasury Department’s Office of Foreign Assets Control added individuals and entities to the Specially Designated Nationals list on Oct. 16 and deleted a number of entries.