Reps. Debbie Wasserman Schultz, D-Fla., and Maria Salazar, R-Fla., introduced a bill Oct. 15 that would prohibit U.S. firms from doing certain business with Venezuela’s energy sector, including its state-owned oil company, until President Nicolas Maduro concedes he lost the July 28 election.
The U.S. this week sanctioned people and companies involved in a sanctions evasion network for the terror group Hezbollah and others that help produce and transport Captagon, an addictive amphetamine, to help fund the Bashar al-Assad regime in Syria.
The U.S. and Canada this week designated the Samidoun Palestinian Prisoner Solidarity Network, known as Samidoun, for being a “sham charity” that operates as an international fundraiser for the Popular Front for the Liberation of Palestine terrorist organization.
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The U.S. will probably increase its use of sanctions and export controls no matter who wins the upcoming presidential election, although a Donald Trump-led administration would be more likely to pursue drastic measures that could accelerate U.S.-China decoupling, said Martin Chorzempa, a senior fellow with the Peterson Institute for International Economics. Those measures include expanding the use of the Bureau of Industry and Security’s foreign direct product rule or placing blocking sanctions on major Chinese companies such as Huawei.
The Office of Foreign Assets Control is asking users of its website to fill out a survey that will give OFAC feedback on how it can streamline the site’s navigation and ensure users can get "the most current and relevant" sanctions data. The survey will also help in "informing the development of innovative applications and resources."
The Office of Foreign Assets Control declined to renew two Russia-related licenses that had authorized certain transactions related to Russia’s Moscow Exchange, National Clearing Center and National Settlement Depository (see 2406120036), warning in guidance last week that it planned to let the licenses expire 12:01 a.m. EDT Oct. 12.
The U.S. last week expanded an Iran-related sanctions authority to target the country’s petroleum and petrochemical sectors and designated a host of entities and vessels that it said have shipped or traded Iranian oil products.
New export compliance guidance issued by the Bureau of Industry and Security outlines the agency’s due diligence expectations for financial institutions and warns that companies that “self-blind” to red flags could face penalties.
The Office of Foreign Assets Control this week sanctioned Algoney Hamdan Daglo Musa, the procurement director of the Rapid Support Forces, a Sudanese militant group warring with the Sudanese Armed Forces. OFAC said he leads RSF efforts to procure weapons and other military items, prolonging a war that has killed thousands of people, displaced millions and has led to “emergency levels of hunger” within Sudan. “The United States will continue to hold accountable those who seek to prolong this conflict and restrict access to vital humanitarian assistance at a time of famine and fragility,” said Brad Smith, the Treasury Department’s acting undersecretary for terrorism and financial intelligence.