The Office of Foreign Assets Control on April 12 removed Bosnia and Herzegovina businessman Slobodan Stankovic and his Republika Srpska-based engineering firm, Integral Inzenjering, from the Specially Designated Nationals List. The agency sanctioned Stankovic in 2022 for ties to corruption (see 2210030015). OFAC didn’t release more information about the delistings, but news reports indicate Stankovic died last year.
The U.S. and the EU last week announced coordinated sanctions against Hamas by targeting people and entities with ties to the terror group.
The U.S. and the U.K. on April 12 expanded certain restrictions on Russia-related metals, including a new services ban on Russian aluminum, copper and nickel.
U.S. companies should expect more retaliation from China if the Bureau of Industry and Security adds more major Chinese technology firms to its Entity List this year, Paul Trulio, a China and technology policy expert, said during an event last week hosted by the Center for Strategic and International Studies. Trulio and other panelists also said it’s unclear exactly how a possible second Trump administration may tweak U.S. export control policy toward Beijing, but they said it’s possible former President Donald Trump, if reelected, could significantly increase restrictions on Chinese firms through potential financial sanctions and may pressure allies to do the same.
The Federal Aviation Administration has made some progress in developing an approach to routinely check Office of Foreign Assets Control sanctions data and flag sanctioned people and entities across its aircraft registration and dealer systems, the Government Accountability Office said April 9.
The Biden administration isn't ready to say whether it plans to formally designate Venezuela’s largest criminal gang, Tren de Aragua, a transnational criminal organization, a State Department official said at an April 11 congressional hearing.
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The Office of Foreign Assets Control this week sanctioned Dubai-based Oceanlink Maritime DMCC, along with 13 of its ships, for helping to transport Iranian commodities for the country’s military. OFAC said Oceanlink has used its vessels to generate revenue for Iran, including through the Hecate, a vessel the company used to load more than $100 million worth of Iranian commodities through a ship-to-ship transfer from another sanctioned tanker, the Dover.
Sanctions compliance professionals should familiarize themselves with several advisories authorities recently issued to help spot “dark fleet” vessels that seek to evade the price cap on Russian oil sales or oil sanctions on Iran and Venezuela, experts said April 4 during a webinar hosted by the Association of Certified Sanctions Specialists.
Jason Prince, former chief counsel for the Office of Foreign Assets Control, has joined Akin Gump's economic sanctions practice, the law firm announced April 3. Prince was most recently a sanctions and export controls lawyer with Crowell & Moring after leaving OFAC in 2022.