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More than meets the eye: Ameron International

Earlier this year, Ameron International, now a subsidiary of National Oilwell Varco (as of 2011), agreed to a settlement with OFAC for violations of the CACR (Cuban Assets Control Regulations) and the ITSR (Iranian Transactions and Sanctions Regulations). The enforcement action release noted that the violating conduct was between 2005 […]

July 30, 2013: OFAC updates Cuba, Narcotics sanctions

Monday, OFAC made two sets of sanctions changes. First, they removed the following vessels from the Cuban sanctions program: ACECHILLY (Acechilly Navigation Co., Malta) (vessel) [CUBA]. ACEFROSTY (Acefrosty Shipping Co., Malta) (vessel) [CUBA]. CASABLANCA (Epamac Shipping Co., Ltd., Malta) (vessel) [CUBA]. COTTY (Heywood Navigation Corp., Panama) (vessel) [CUBA]. FLYING DRAGON […]

Even non-profits can get fined…

The American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the “American Club”) just got fined $348,000 for 55 non-egregious violations of the Cuban, Iranian and Sudanese sanctions programs that they did not voluntarily self-disclose. The transactions were maritime Protection and Indemnity (P&I) insurance claims, Letters of Undertaking (LOU – […]