On 13 November 2017, the EU imposed targeted sanctions against Venezuela. See Council Regulation (EU) 2017/2063 and Council Decision (CFSP) 2017/2074. The EU’s decision is also based on the Office of the United Nations High Commissioner for Human Rights report…Read More
Other OFAC Related Sanctions Programs
U.S. considering to reimpose sanctions against Burm/Myanmar in the face disproportionate violence against the Rohingya minority in the Rakhine State.
President Trump authorizes the Secretary of the Treasury, in coordination with the Secretary of State, to administer the Global Magnitsky Act. The Act aims to impose economic sanctions on persons responsible for massive human rights violations and significant acts of corruption.
On 09 August 2017, Mexican soccer legend Rafael Márquez was blacklisted by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC). He was placed on the Specially Designated Nationals List), under the Foreign Narcotics Kingpin Designation Act (Kingpin Act). As a SDN, persons subject to U.S. jurisdiction are prohibited from doing any business with the soccer giant.
On 26 July 2017, OFAC imposed a new wave of sanctions against Venezuela. The OFAC action blacklists 13 current or former senior officials of the Venezuelan Government that the U.S. Government holds responsible for the undermining of democracy, violence against opposition protesters and corruption. As a result, all assets of these individuals subject to U.S. jurisdiction are frozen, and U.S. persons are prohibited from dealing with them.
On 18-05-2017, the U.S. Department of the Treasury’s OFAC slapped sanctions on Venezuela’s Supreme Court of Justice (Tribunal Supremo de Justicia or TSJ and Constitutional Chamber TSJ-C). OFAC designated eight members of the TSJ for their contribution to undermining the Venezuelan democratic process). Specifically, the black-listings are based on Executive Order 13692, which impose both a travel ban (into the U.S.) and freeze all assets (subject to U.S. jurisdiction) of the blacklisted judges. As a result, all U.S. persons are generally prohibited from engaging in any transactions with these persons.
On 04 May 2017, the U.S. House of Representatives approved the Korean Interdiction and Modernization of Sanctions Act (H.R. 1644). This latest salvo of U.S. sanctions against North Korea aims to thwart Pyongyang’s advancing nuclear and ballistic missile programs. The sanctions target North Korea’s shipping industry and use of slave labor. The approved bill has now moved to the U.S. Senate, who must now approve the restrictive measures.
On 17 January 2017, President Obama controversially authorized the easing of sanctions against Sudan (falling under SSR and E.O.’s 13067 and 13412). The decision was made in a step towards normalizing bi-lateral relations with Sudan. U.S. officials defend the change in policy towards Khartoum as a response to the latter’s steps towards improving humanitarian access, lowering violence internally, as well as “cooperation with the United States on counter-terrorism and addressing regional conflicts.”
President Obama Eases Sanctions on Myanmar On 02 December 2016, President Obama issued Presidential Determination No. 2017-04 which eases U.S. sanctions against Myanmar (Burma). President Obama declared that the “[Burmese] government had made substantial progress in improving…
UK Parliament is to vote on a Magnitsky “Amendment,” which has been inserted into the Criminal Finances bill. The Amendment aims to curb money-laundering and terror financing. Similar to the 2012 U.S. law, the Amendment is named after Sergei Magnitsky, a Russian lawyer, turned whistle-blower, who died in 2009 after uncovering a $230m theft from the state budget by tax officials. If the amendment is adopted into law, both the UK Government and private parties could request the High Court to freeze UK assets of parties, involved or facilitating human rights violations, from profiting from gross human rights abuses in any country.