The Office of Foreign Assets Control designated two people and three companies for their roles in exploiting the Guatemalan mining sector, along with three associated entities connected with their corruption schemes, according to a Nov. 18 news release.
The Office of Foreign Assets Control in a Nov. 18 notice issued Russia-related General License 54 authorizing all transactions necessary for the purchase or receipt of any debt or equity securities of VEON Ltd, a multinational telecommunication services company. The license authorizes transactions that would otherwise be prohibited by executive order 14071, Prohibiting New Investment in and Certain Services to the Russian Federation, provided that the debt or equity securities were issued prior to June 6. The license does not authorize transactions otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations, including transactions involving any blocked person, unless separately authorized.
Congress should create a new, “permanent” committee in the executive branch tasked with planning sanctions against China under “a range of possible scenarios,” including if it invades Taiwan, a congressional commission said this week. The bipartisan commission also said the Commerce Department should provide Congress with regular enforcement and licensing reports on certain China-related export control decisions and said the administration should create a new list of Chinese firms that should be subject to strict export licensing requirements.
The U.K.'s Office of Financial Sanctions Implementation on Nov. 14 released a blog post and guidance on the Russian oil price cap. The post coincides with the introduction of the maritime services ban and the price cap exception for crude oil. OFSI said that a General License creating the price cap will be released before Dec. 5 and that additional licenses to "ensure international alignment and the smooth operation of the Price Cap will also be published" before Dec. 5.
The U.K. released a General License, titled, "Funds of non-designated third parties involving designated credit or financial institutions." Granted under the U.K.'s Russia sanctions regulations, the license lets an individual use the retail banking services of a designated credit or financial institution if payments made or received are intended for personal use. Payments cannot exceed around $59,500, and the individual making or receiving the payment must report the payment details to the Treasury. The one-year license expires Nov. 10, 2023.
The U.S. this week sanctioned firms and people involved in making drones and transferring them from Iran to Russia, including an Iranian producer and two United Arab Emirates entities. The designations come less than a month after the U.S. said it was considering additional sanctions on both Russia and Iran following Iranian sales and operation of drones in Ukraine (see 2210210046).
The EU added another 10 individuals and one entity to its sanctions regime pertaining to the use of chemical weapons, the European Council said in a Nov. 14 news release. The additions are connected to the poisoning of Russia's leading opposition leader Alexei Navalny and include high-level officials at the Russian Federal Security Service and Russian chemical weapons experts. The added entity is MHD Nazier Houranieh & Sons, which provides the Syrian Studies and Research Center with materials to make chemical weapons delivery systems.
The U.K.'s Office of Financial Sanctions Implementation in a series of four notices amended various entries under its sanctions regimes pertaining to North Korea, Myanmar, Russia and Global Human Rights.
The Office of Foreign Assets Control and the State Department issued sanctions against 14 individuals, 28 entities and eight aircraft that are part of a transnational network procuring technology supporting the Russian military-industrial complex and a network of financial facilitators, OFAC said in a Nov. 14 news release.
The U.K.'s Office of Financial Sanctions Implementation on Nov. 10 released its annual review for 2021-2022. OFSI said in the review that from Feb. 22 to Oct. 22 this year, more than $21.4 billion in frozen funds were reported to OFSI as being held on behalf of sanctioned parties under the Russia sanctions regime. That's up from nearly $52 million in September 2021. OFSI received 236 reports of sanctions breaches, issued two monetary penalties and issued warning letters and "other enforcement action where appropriate." The report said OFSI had issued 33 general licenses related to its Russia sanctions regime by Aug. 24 and issued 42 new and 107 amended specific licenses across its nine sanctions regimes, with most relating to Libya sanctions. OFSI, with 45 staff at the beginning of the year, will reach 100 employees by year's end, the review said.