The Office of Foreign Assets Control on Jan. 17 deleted nine Guatemala-related entries on its Specially Designated Nationals List, including entries relating to the Guatemalan Nickel Company, also known as Compania Guatemalteca de Niquel. The entity was designated in 2022 for being a subsidiary of Russia-based Solway Investment group, which OFAC said has “exploited” Guatemalan mines for years. The agency didn’t provide more information on the reasons for the delistings.
The Office of Foreign Assets Control this week sanctioned Alberto Pimentel Mata, Guatemala’s former energy and mining minister, for exploiting the country’s mining sector through “widespread bribery schemes” involving government contracts and mining licenses. OFAC said he reportedly accepted “large” monthly payments in exchange for certain permits, took bribes in exchange for accepting contracting bids, retaliated against companies that didn’t bribe him and more. The agency said Pimentel resigned from the government in July last year.
The Office of Foreign Assets Control Jan. 16 again extended a general license that continues to delay an exemption that would authorize certain transactions related to Petroleos de Venezuela, S.A. General License 5N, which replaced GL 5M, now authorizes certain transactions with PdVSA involving an 8.5% bond on or after April 16. The previous license was set to allow those transactions to occur on or after Jan. 18.
The House on Jan. 12 passed a bill aimed at helping the Treasury Department find terrorists, Russian oligarchs and corrupt government officials.
The Office of Foreign Assets Control last week removed sanctions for 9H-OKO, an aircraft that it had sanctioned in 2022 for being owned by Emperor Aviation, a Malta- and Russia-based aircraft management company. The agency didn’t provide more information about the removal.
A new set of U.S. sanctions last week targeted one person and three entities involved in transferring and testing missiles shipped between North Korea and Russia, the State Department said.
The Office of Foreign Assets Control last week sanctioned two companies, in Hong Kong and the United Arab Emirates, along with their vessels, for shipping Iranian goods on behalf of a financial facilitation network for the Houthi rebels.
A new U.S. executive order significantly raises Russia-related compliance risks for foreign banks that may have thought they weren’t subject to U.S. sanctions authorities, law firms said this month. The order also could lead to new risks for U.S. businesses, the firms said, which may need to conduct more due diligence on any foreign financial institutions with ties to their supply chains.
The Office of Foreign Assets Control is adjusting its civil monetary penalties for inflation, the agency said in a notice this week. The new amounts include higher maximum penalties for violations of the Trading With the Enemy Act, the International Emergency Economic Powers Act, the Antiterrorism and Effective Death Penalty Act, the Foreign Narcotics Kingpin Designation Act and the Clean Diamond Trade Act. The agency also updated two references to “one-half the IEEPA maximum" penalty, which changed from $178,290 to $184,068. OFAC also adjusted the record-keeping penalty amounts in the agency's Economic Sanctions Enforcement Guidelines. The changes take effect Jan. 12.
The Office of Foreign Assets Control this week sanctioned one person, two entities and three aircraft with ties to Russia, according to a Jan. 11 update to its Specially Designated Nationals List. The designations target Vladimir Vladimirovich Mikheychik, Ashuluk Firing Range, and Vladimirovka Advanced Weapons and Research Complex. OFAC also sanctioned aircraft with tail numbers RF-78757, RF-82011 and RF-86898.