The U.K.’s Office of Financial Sanctions Implementation on April 2 updated its general license authorizing certain transactions involving the U.K. Companies House, the government agency that maintains a register of companies incorporated in the U.K. The license authorizes certain payments between sanctioned parties and the agency.
A U.S. government official didn’t say for sure whether the Treasury Department will allow a general license involving Venezuela’s state-owned energy company to expire next month, but suggested companies should expect it to lapse if the Venezuelan government doesn’t soon reverse its crackdown on political opposition members.
The Bureau of Industry and Security is adding new export license requirements for people and entities designated under certain Treasury Department sanctions programs, a move it said will strengthen U.S. financial blocking measures and act as a “backstop” for activities that those restrictions don’t cover.
The Office of Foreign Assets Control this week amended and reissued its Global Magnitsky Sanctions Regulations, which now include a “more comprehensive set” of regulations with updated guidance, definitions, general licenses and other provisions meant to “provide further guidance to the public.” The changes, outlined in a final rule effective March 12, replace the regulations that OFAC published in “abbreviated form” in 2018.
The U.S. this week sanctioned 16 entities and people that are part of an “expansive business network” that raises and launders money for al-Shabaab, an al-Qaida linked terrorist group. The designations target business people in Africa, the United Arab Emirates, Cyprus and Finland who have helped fund the terror group, which has allowed it to kill “thousands of innocent civilians,” the agency said.
The Office of Foreign Assets Control changed the heading of its Darfur Sanctions Regulations to the Sudan Stabilization Sanctions Regulations and amended other parts of the regulations to implement a May executive order that expanded the U.S. sanctions authority against Sudan (see 2305040037). The agency also added new definitions, general licenses and guidance. The changes take effect March 5.
An updated general license issued last week by the Office of Foreign Assets Control (see 2402290080) narrowed the scope of transactions that were previously authorized with Consorcio Venezolano de Industrias Aeronauticas y Servicios Aereos, S.A., Venezuela’s flagship airline, the agency said in March 1 guidance.
Several companies recently disclosed potential export control or sanctions violations or updated the status of their current disclosures, including several technology businesses, a pharmaceutical company and a cryptocurrency software platform company. The disclosures describe potential violations of U.S. sanctions against several countries -- including Russia, Iran and North Korea -- and one company receiving a no-action letter from the Office of Foreign Assets Control.
The Office of Foreign Assets Control on Feb. 29 updated a general license that authorizes certain transactions with Venezuela’s flagship airline. General License 45B, which replaced License 45A, updated and removed language relating to the types of transactions that are authorized with Venezuela’s Consorcio Venezolano de Industrias Aeronáuticas y Servicios Aéreos, also known as Conviasa.
Companies should continue to see more Chinese additions to the U.S. Entity List this year, although Russia sanctions likely will continue to dominate the government’s time and resources, trade lawyers said this week.