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You are subscribed to SDN and/or Office of Foreign Assets Control (OFAC) Recent Actions updates for the U.S. Department of the Treasury.
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing a licensing policy update, an enforcement action, and updates to the list of Specially Designated Nationals and Blocked Persons (SDN List).
Licensing Policy Update under Operation Economic Outcast
OFAC's Iran-related specific licensing policy has been modified in furtherance of the U.S. Department of the Treasury-led Operation Economic Outcast. Effective immediately, OFAC is considering Iran-related specific license applications with a presumption of denial except as required by law or in certain circumstances, such as risk to life, limb, or environmental safety. Applicants are encouraged to subscribe to OFAC Recent Actions for further updates.
Iran Sanctions Enforcement
Dealings with sanctioned parties, as well as jurisdictions such as Iran, are generally prohibited, and Iran-related enforcement actions continue to be a top priority for OFAC. Today, OFAC announced that an individual has agreed to pay $1,427,230 to settle their potential civil liability for providing management consulting and advisory services to one of Iran's leading software solutions companies. The individual also received Iranian-origin dividends to their U.S. bank accounts and acquired real property in Iran. The settlement amount reflects OFAC's determination that the apparent violations were egregious and not voluntarily self-disclosed. OFAC's investigation and resolution of this matter was in cooperation with the Federal Bureau of Investigation, Los Angeles Field Office, Orange County Resident Agency. OFAC's aggressive enforcement campaign to hold accountable U.S. and foreign persons who violate Iran sanctions will continue as part of Operation Economic Outcast. Additional information about today's enforcement action can be found in OFAC's Enforcement Release.
The SDN list has recently been updated. Please visit this page to access the latest version of the SDN list. Check this page periodically as it may also be updated if a new list-related format or product is offered.
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