CMA CGM (America) LLC recently agreed to shell out $374,400 to the Office of Foreign Assets Control (“OFAC”) to settle charges that it accepted payments for shipping services provided by its foreign parent company, CMA CGM, or its foreign affiliates,…
This article in Bloomberg Business Week details efforts by the U.K. Export Control Organization (“ECO”) to prevent U.K. companies that trade with Iran from becoming subject to U.S sanctions on Iran. Bloomberg filed a lawsuit in the United Kingdom seeking…
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…