Iran-a-palooza
Lots of news lately on Iran sanctions, so here’s a summary and some links. Here’s a link to the OFAC letter we mentioned last week disputing some of the charges made by the New York State Department of Financial Services…
Category OFAC
OFAC to UK: NYDFS Misread Our Rules
Yesterday, I reported on the New York Department of Financial Services’ Order against Standard Chartered claiming that the Bank violated the rules of the Office of Foreign Assets Control by stripping out the names of Iranian entities in wires for…
OFAC Drops CISADA Bomb on Two Banks
The Office of Foreign Assets Control (“OFAC”) today applied sanctions under the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010 against the Bank of Kunlun in China and the Elaf Islamic Bank in Iraq. Under these sanctions, U.S. financial…
Your Tax Dollars At Work
ABOVE: Zachary Sanders A long time ago in a galaxy far, far away, a young American teaching English in Mexico decided to take a trip to Cuba. Today, after fourteen years of legal maneuvering with the Department of Treasury’s Office…
Burma Sanctions Shaved
Back in May this blog reported on Secretary of State Clinton’s announcement that the U.S. would issue general licenses permitting export of financial services to, and investment in, Burma. Yesterday those general licenses were issued by the Department of Treasury’s…