…for violations of the Sudanese, Cuban and Iranian sanctions programs. Most notable is the following: As early as the late 1990s, Intesa maintained a customer relationship with Irasco S.r.l. (“Irasco”),an Italian company headquartered in Genoa, Italy that is owned or controlled by the Governmentof Iran (“GOI”). Despite Irasco’s ownership and […]
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 – […]
Disclaimer: The information in this post comes from the documents on OFAC’s website and may not reflect current program details. The sanctions flyer for this program is dated January 24, 2012. Now, for the last set of sanctions details… First, transactions related to “snail mail” between the US and Cuba? […]
Disclaimer: The information in this post comes from the documents on OFAC’s website and may not reflect current program details. The sanctions flyer for this program is dated January 24, 2012. Now, for the nitty-gritty – if the previous 2 posts weren’t gritty enough… First, transactions involving property of Cuba […]
Disclaimer: The information in this post comes from the documents on OFAC’s website and may not reflect current program details. The sanctions flyer for this program is dated January 24, 2012. Very little of Cuban origin can be exported from Cuba or brought into the US. “Informational materials,” which include […]
Disclaimer: The information in this post comes from the documents on OFAC’s website and may not reflect current program details. The sanctions flyer for this program is dated January 24, 2012. The OFAC Cuban sanctions program is the old man on the block, going all the way back to 1963, […]
In order to provide certain services to Cuba, you need to be specifically licensed by OFAC. The list of licensed Travel Service Providers, Carrier Service Providers and Remittance Forwarders has just been updated. Link: LIST OF AUTHORIZED PROVIDERS OF AIR, TRAVEL AND REMITTANCE FORWARDING SERVICES TO CUBA
What’s to prevent a country with blocked cargo vessels with changing the IMO number? If you changed the name (which Iran did with the IRISL vessels), changed the flagging (Iran has even changed the flagging without actually working with the country in question) and changed the IMO number (I assume […]
Mr. Watchlist 