ABOVE: Nicolas Maduro Venezuelan President Nicolas Maduro in December announced his plans to have Venezuela issue a commodity-backed cryptocurrency. Although cryptocurrencies typically have no backing, there is no reason that they could not. In such a situation, the blockchain would…
ABOVE: Ramzan Kadyrov & Cat Ramzan Kadyrov, head of the Chechen Republic, Putin toady, serial human rights violator, cat aficionado,* fashion victim and blocked person on the OFAC SDN List is upset that his Facebook account has been deleted. A…
I have received several inquiries regarding the absence this year of the annual Santa vs. OFAC post. The reason, of course, was this press release, set forth below, from October 14, 2016. A quick call by Export Law Blog to…
Dentsply Sirona agreed to pay the Office of Foreign Assets Control (“OFAC”) $1,220,400 to settle charges in connection with 37 unlicensed exports of dental equipment to Iran. The value of the shipments was not stated but it would have been…
Last Tuesday the Office of Foreign Assets Control (“OFAC”) issued a “finding of violation” (but not a fine) against the Dominica Maritime Registry (“DMR”) for entering into a “Binding Memorandum of Understanding” with the National Iranian Tanker Company (“NITC”), an…