OFAC

A trader identified by The Wall Street Journal as a central figure in Russia’s shadow fleet has revived his oil business after the Iran war disrupted supplies from the Persian Gulf and boosted demand for Russian crude that had been stranded at sea.

The United States on Wednesday issued a general license broadly authorizing U.S. companies to do business with Venezuela’s state-run oil company PDVSA, a move that could unlock new investment and eventually increase the country’s crude production capacity.

North Sea oil executive Francesco Mazzagatti could soon be the subject of a worldwide asset freeze stemming from a London lawsuit alleging he siphoned funds from former business partners tied to an Iranian petrochemicals business.

TradeStation Securities agreed to pay $1.11 million to settle potential civil liability for 481 apparent violations of U.S. sanctions rules after the Florida-based brokerage provided services to people in Iran, Syria, and Crimea.

Illicit Iranian oil shipments continue to move through Asian waters toward China, generating a critical revenue stream for Tehran and helping Beijing build large crude stockpiles despite sanctions and heightened regional conflict.

The U.S. Treasury Department has issued a second temporary authorization allowing buyers to take delivery of Russian oil cargoes already at sea, broadening a waiver granted last week to India alone as Washington seeks to ease pressure on crude prices during the ongoing conflict in Iran.

The U.S. Treasury Department on Thursday announced two new sanctions actions targeting financing and revenue-generation networks tied to Hamas and the Democratic People’s Republic of Korea.

Senate Democrats are pressing for a congressional hearing on the Trump administration’s decision to ease sanctions on Russian oil, arguing that the step could benefit Moscow even as the Kremlin is providing support for Iranian forces.

The United States is temporarily easing sanctions on Russian oil sales to India with a 30-day waiver aimed at preventing supply shortages and cushioning a sharp rise in crude prices after U.S. and Israeli attacks on Iran.

The U.S. Treasury Department on Monday imposed sanctions on Rwanda’s military and four senior officials, accusing them of backing the March 23 Movement (M23) armed group in eastern Democratic Republic of the Congo (DRC).