Recent news from Treasury’s Office of Foreign Assets Control: August 3 | ABA Banking Journal

OFAC took sanctions action over the last week in the Balkans, Russia, Mali and terrorism programs:

Balkans-related Sanctions

• OFAC Designates Officials in Bosnia and Herzegovina for Undermining the Dayton Peace Agreement: OFAC on July 31 designated a government official of Bosnia and Herzegovina (BiH) and three government officials from the Republika Srpska (RS) pursuant to Executive Order 14033 which targets individuals and entities responsible for or complicit in, or having directly or indirectly engaged in an act that has obstructed or threatened the implementation of peace, cooperation, or mutual recognition agreement or framework mechanism related to the Western Balkans. Specifically, these government officials were designated for their roles in encouraging the passage of a Republika Srpska National Assembly law which obstructs and threatens the implementation of the Dayton Peace Agreement. OFAC designated Speaker and President of the RSNA Nenad Stevandic, RS Prime Minister Radovan Viskovic, Serb member of the BiH Presidency Zeljka Cvijanovic and RS Minister of Justice, Milos Bukejlovic. Read more.

Russia-related Sanctions

• OFAC Updates Specially Designated Nationals List: OFAC on Aug. 3 removed an individual and an entity previously designated pursuant to Executive Order 13818, Global Magnitsky and Executive Order 14024, Blocking Property with Respect to Specified Harmful Foreign Activities of the Government of the Russian Federation, respectively. OFAC also updated several listings for several entities and an individual designated pursuant Russia-related sanctions. See the updates.

Mali-related Sanctions

• OFAC Amends Mali Sanctions Regulations: OFAC on Aug. 4 adopted a final rule amending and replacing the Mali sanctions regulations, published in abbreviated form on Feb. 7, 2020, to further implement a July 26, 2019 Mali-related Executive Order and provide a more comprehensive set of regulations, including additional interpretive and definitional guidance, general licenses, and other regulatory provisions. The regulatory amendment will take effect upon publication in the Federal Register on Aug. 7, 2023. Read more.

Terrorism-related Sanctions

• OFAC Designates ISIS and al-Qa’ida in Maldives: OFAC on July 31 designated key leaders and financial facilitators of ISIS and al-Qa’ida in Maldives, including several ISIS, ISIS-Khorasan (ISIS-K), and al-Qa’ida operatives. The designees include leaders of Maldives-based terrorist-affiliated criminal gangs and associates of an ISIS-K recruiter, Mohamad Ameen who was designated by OFAC in 2019. Several of the designees have planned or carried out attacks that targeted journalists and local authorities. In addition to the designated individuals, OFAC also designated 29 companies owned or operated by the designated individuals. See the list of designees. Read more.