OFAC announced that it assessed a $4,073,000 penalty against California-based Epsilon Electronics Inc. Epsilon sells, among other things, audio and video equipment for cars (think of any number of MTV auto-improvement shows). OFAC alleged that over an almost four-year period from…
Processadoro Campofresco, Inc., a Puerto Rican fruit juice processor and packager, has agreed to pay to OFAC $27,000 in connection with its purchase of passion fruit juice and pulp from a Colombian company designated under OFAC’s narcotics trafficking sanctions. This…
OFAC just announced the addition of the three banks to the Sectoral Sanctions Identifications List (“SSIL”). As with the banks previously added to the SSIL, U.S. companies and individuals are prohibited in dealing in loans longer than 90 days or…
The Herald, a Mugabe mouthpiece owned by the Zimbabwean government, recently criticized former British Prime Minister Tony Blair in two articles for reported comments the UK made to justify the imposition of sanctions against Zimbabwe. Referring to “illegal sanctions,” The…
Last week, we reported that there was some confusion relating to the new Sectoral Sanctions Identifications List inasmuch as OFAC said, in one place, that the prohibitions extended to dealing in equity and 90-day debt “of” and, in another place,…