Category: Blog
Extradition Shouldn’t Be Political
Extradition is the formal process of one government transferring an individual from their custody into the custody of another country after that person has been accused of a crime. The extradition process is agreed upon by all countries in order to combat transnational criminal activities and keep everyone safer. After...
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New Sanctions Target Russian Arctic LNGs
Sanctions are designed to prevent an individual, entity, or country from conducting certain business transactions. In recent years, multiple global governments have been working together to sanction Russia, Russian companies, Russian nationals, and Russian businesses in an effort to slow down and disable the Russian military from pursuing its goals...
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Houthi Financial Network Faces More Sanctions
Since October 2023, the U.S. has been targeting the network of Sa’id al-Jamal, a Houthi financial facilitator, with various economic sanctions. Just recently, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) initiated a 7th round of financial sanctions against Sa’id al-Jamal and everyone who is supporting him....
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OFAC Sanctions Cyprus-Based Entities
The Office of Foreign Assets Control (OFAC) is a U.S. governmental agency that’s tasked with ensuring that no one in the states is supporting terrorists, restricted governments, or other entities that are determined to be national threats. To enforce restrictions and uphold national security, the OFAC issues sanctions. These sanctions...
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OFAC Lifts Sanctions on Russia-Based Aircraft Company
The Office of Foreign Assets Control (OFAC) is the primary agency responsible for monitoring and controlling assets that are potentially landing in the hands of bad global actors. Most importantly, the OFAC seeks to ensure that terrorists, drug dealers, and human traffickers aren’t being funded through business deals, trades, and...
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Transactions Involving VTB Bank Europe Authorized in U.S. Again
Back in February of 2022, the U.S. Treasury took significant action in response to Russia’s continued aggression in Ukraine. To help deter Russia from continuing down the same path, the U.S. Office of Foreign Assets Control decided to initiate specific sanctions against some of the country’s largest financial institutions. The...
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OFAC Sanctions 4 for Aiding Terrorists in Bahrain
On March 12, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) initiated sanctions against specific individuals who have been accused of materially assisting, sponsoring, and providing material, financial, or technological support, or goods or services to, or in support of Al-Ashtar Brigades. These individuals are all...
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Swiss Bank Violates OFAC Sanctions Pays $3.7M
The Office of Foreign Assets Control settled its first case of 2024, and it’s a significant one. According to reports, EFG International AG, a private global banking group based out of Switzerland, has agreed to pay over $3.74 million for violations of multiple sanctions programs. The OFAC accused EFG of...
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OFAC Bans Sale of Turbine Lubricants to Russia
The Office of Foreign Assets Control is in charge of issuing economic sanctions against individuals, companies, groups, and countries that are accused of aiding terrorists, narcotics traffickers, or other enemies of the state. These sanctions usually block assets or restrict trade to accomplish various national security goals. A recent action...
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U.S. Sanctions Groups Working with Central Bank of Iran
According to recent reports, the United States Department of the Treasury issued sanctions against three individuals and four entities that they believe are responsible for illegally exporting both goods and technology to Iran. Reports reveal that these individuals and entities developed the procurement network that collected goods, technology, classified information,...
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