Nothing much of interest at the Sanctions breakout yesterday during the 2011 Update conference held by the Bureau of Industry and Security. The panel members included two people from the Office of Foreign Assets Control (“OFAC”) who went over some…
Just how far does the information exception to our economic sanctions programs go? Of course, the traditional response from the Office of Foreign Asset Controls (“OFAC”), the agency that administers the U.S. economic sanctions regimes, is usually “Not very far.”…
According to an article in The Herald, the state-controlled newspaper of Zimbabwe, the Office of Foreign Assets Control (“OFAC”) refused to unblock $30,000 that a U.K. couple wired to purchase land in Chinhoyi Municipality, Zimbabwe, and that was blocked by…
Trans Pacific National Bank recently agreed pay $12,500 penalty to the Office of Foreign Assets Control (“OFAC”) to settle charges that it had facilitated transactions by a foreign person where the transactions by the foreign person would be prohibited if…
ABOVE: Qari Hussain Today the Office of Foreign Assets Control (“OFAC”) added Qari Hussain (a.k.a. Qari Hussain Mehsud) to its list of Specially Designated Nationals and Blocked Persons. U.S. individuals and companies are prohibited from engaging in any transactions with…