OFAC ISSUES NEW TERRORISM AND SYRIA SANCTIONS NAMES AND AMENDMENT OF 1 ENTRY UNDER SYRIA SANCTIONS

On 20th November, OFAC announced the addition 6 individuals to its terrorism sanctions list, including 1 Russian national; 3 entities have been added to the Syria sanctions list, 2 Russian and 1 Iranian.  Those subject to sanctions are said to have been involved in a scheme to make illicit oil shipments from Iran to Syria.

The amendment relates to MB Bank, Russia-based and linked to the Iranian Bank Melli.

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20181120.aspx

https://www.washingtontimes.com/news/2018/nov/20/us-sanctions-iran-russian-firms-illegal-oil-shipme

https://home.treasury.gov/news/press-releases/sm553

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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