The OverRuled: Sanctions Module has been updated with the following actions:
- 03 Dec 2024 - Aiotec GmbH - USD $14,550,000
Between 2015 and 2019, Aiotec GmbH conspired to cause a U.S. company to indirectly sell and supply an Australian polypropylene plant to Iran, and remit payments for the polypropylene plant through U.S. financial institutions.
The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 21 Nov 2024 (OFAC):
The Akin Summary document has now been posted for this action.
The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") added 16 individuals and 100 entities—including Gazprombank and many other Russian banks, plus over 40 registrars of securities—to the Specially Designated Nationals and Blocked Persons List (SDN List), and amended and deleted certain Non-SDN Menu-Based Sanctions List (NS-MBS List) entries related to Gazprombank.
Concurrent with these designations, OFAC also reissued two pre-existing Russia-related General Licenses ("GLs") to add Gazprombank-related authorizations (i.e. GL 53A "diplomatic missions of the Russian Federation" and 55C "authorizing certain services related to Sakhalin-2"), and issued GL 113 (wind down of transactions involving certain financial institutions blocked on November 21, 2024, including Gazprombank) and GL 114 (authorizing certain transactions related to debt or equity of, or derivative contracts involving, certain entities blocked on November 21, 2024, including Gazprombank).
Additionally, OFAC issued two new Russia-related FAQs (1201 and 1202) and amended three existing FAQs (976, 1096 and 1197).
Lastly, OFAC published a new Russia-related alert on sanctions risk for foreign financial institutions that join the Russian Financial Messaging System, a SWIFT-like system, for the transfer of financial messages.
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