US LIFTS SANCTIONS ON SOMALI GROUP OF COMPANIES

On 13 February, The East African reported that the US has lifted sanctions on Somali group of companies, Al-Barakat, which dealt in informal money transfer services.  The group, involved in hawala as well as logistics, telecom and internet services, had been designated by OFAC in 2001.   The UN lifted its sanctions on the group nearly 9 years ago.  It is speculated that lobbying by humanitarian groups led to the US move.

https://www.theeastafrican.co.ke/news/ea/US-lifts-sanctions-on-Somali-company-/4552908-5454602-6rti1t/index.html

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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