This ITT update provides more details on the Comprehensive Iran Sanctions, Accountability, and Divestment Act’s expansion of U.S.’ Iran petroleum sanction provisions, including their application to certain non-U.S. individuals and companies and more details on CISADA’s penalties. Also included in this update are other provisions not covered in ITT’s previous summaries of CISADA, including its requirements on the investigation of Iran petroleum violations, waivers, diversion of products, and licensing.
The Office of Foreign Assets Control is publishing additional identifying information associated with the five individuals listed in the Annex to Executive Order 13566, “Blocking Property and Prohibiting Certain Transactions Related to Libya,” whose property and interests in property are therefore blocked. (See ITT's Online Archives or 02/28/11 news, 11022856, for previous BP summary of OFAC's addition of this information to its Specially Designated Nationals list.)
At a recent press briefing, a State Department official stated that the U.S. is trying to increase pressure on former Cote d'Ivoire President Gbagbo to further isolate him. The official also noted that Gbagbo's threat to nationalize the cocoa industry in an effort to gain funds clearly show that the sanctions that the U.S. has leveled against him are having an effect. (See ITT's Online Archives or 01/06/11 news, 11010648, for BP summary of OFAC's sanctions against Gbagbo and others pursuant to Executive Order 13396.)
The U.S. Attorney's Office for the Southern District of Florida has announced that Felipe Echeverry, Amparo Echeverri Valdes, and Carlos Alfredo Pantoja-Coral, of Colombia, and Diego Echeverri, of New York, were indicted on various counts1 for illegally attempting to export twenty-two F-5 jet fighter engines to Iran, in violation of the International Emergency Economic Powers Act (IEEPA).
The Office of Foreign Assets Control is removing the name of one individual, Joko Pitono of Indonesia, whose property and interests in property have been blocked pursuant to Executive Order 13224, "Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten To Commit, or Support Terrorism, from the list of Specially Designated Nationals and Blocked Persons." The removal of this individual from the SDN List is effective as of March 17, 2011.
The Office of Foreign Assets Control has identified 14 companies owned by Libya’s National Oil Corporation, as subject to sanctions pursuant to Executive Order 13566, pursuant to which U.S. persons are prohibited from engaging in business with these companies.
The Office of Foreign Assets Control has updated its list of Specially Designated Nationals to remove 15 previously designated individuals.
The Office of Foreign Assets Control announces that effective March 18 and March 23, 2011, respectively, it is revoking General License No. 1 and General License No.3 issued pursuant to the Weapons of Mass Destruction Proliferators Sanctions Regulations. General License No. 1 authorized certain transactions related to the arrest, detention, and judicial sale of the MV Sabalan, MV Sahand, and MV Tuchal; and General License No. 3 authorized certain transactions related to the arrest, detention, and judicial sale of the MV First Ocean and MV Second Ocean, five vessels on OFAC’s List of Specially Designated Nationals and Blocked Persons.
The Office of Foreign Assets Control is publishing the names of 26 entities, including 24 shipping companies affiliated with the Islamic Republic of Iran Shipping Lines (IRISL), whose property and interests in property are blocked pursuant to Executive Order 13382, “Blocking Property of Weapons of Mass Destruction Proliferators and Their Supporters," effective January 13, 2011. (See ITT's Online Archives or 01/14/11 news, 11011404, for previous BP summary of these designations.)
Taking further steps to isolate the Qadhafi regime, the Treasury Department has announced the designation of Libyan Foreign Minister Moussa Koussa as well as the identification of 16 entities in Libya’s banking, oil, aviation and investment sectors as being owned or controlled by the Government of Libya pursuant to Executive Order 13566, including Afriqiyah Airways and National Oil Corporation. The Office of Foreign Assets Control has also updated its Specially Designated Nationals list to include these designations.