OFAC | Certain Risk

Alexander Lukashenko the president of Belarus and spectators at the celebration of the 75th anniversary of the victory in the Great Patriotic War, parade of May 9 in Minsk, Belarus. Minsk, Belarus - May 9 2020.

U.S. Lifts Sanctions on Belarusian Fertilizer Companies and Bank

The United States has lifted sanctions on three Belarusian fertilizer companies and the country’s state investment bank in exchange for Belarus freeing 250 political prisoners, a move made as the war in Iran continues to drive fertilizer prices higher.

Nakhodka, Russia - July 31, 2022: The top view on Oil-storage tank with the tanker at a mooring.

Russia’s Shadow-Fleet Broker is Banking on Sanctions Lift and Oil Demand

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.

Photo of a sign in Venezuela for the oil company PDVSA. — “PDVSA 5 de Julio” by Wilfredor (2009), Wikimedia Commons, licensed under CC BY-SA 3.0. Edited from the original. Source: https://commons.wikimedia.org/wiki/File:PDVSA_5_de_Julio.jpg License: https://creativecommons.org/licenses/by-sa/3.0/

U.S. Lifts Major Restrictions on Venezuela’s PDVSA

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.

Large offshore oil platform with support vessel in open sea at dusk, illuminated against dramatic clouds. Concept of energy industry, petroleum extraction, fossil fuels, marine logistics, and industrial operations at sea.

UK’s Top-Paid Oil Exec Faces Global Asset Freeze Over Siphoned Iran Funds

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.

The Treasury Department headquarters in Washington, D.C.

FL Brokerage to Pay $1.1mn for Failing to ID Human Error in Sanctions Controls

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.

Photo: “View of Singapore Strait over Gardens by the Bay” by Remy Osman, via Wikimedia Commons, licensed under Creative Commons CC BY-SA 4.0. Edited for layout and headline. Source: https://commons.wikimedia.org/wiki/File:View_of_Singapore_Strait_over_Gardens_by_the_Bay.jpg

For Iran, Oil Sales Continue Despite Sanctions and War

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.

Beautiful coastal scenery near Khasab, in Musandam peninsula, Oman, photo taken from a boat during a tour

OFAC Expands Sanctions Waiver on Russia Oil Sales

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.

Washington, DC, USA - June 24, 2022: Exterior view of the Department of the Treasury (USDT) Building in Washington, DC.

OFAC Targets Hamas-Linked Charities, DPRK-Linked IT Worker Schemes

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.

U.S. Senator Elizabeth Warren speaking with attendees at the 2019 National Forum on Wages and Working People hosted by the Center for the American Progress Action Fund and the SEIU at the Enclave in Las Vegas, Nevada. — “Elizabeth Warren (47699370372)” by Gage Skidmore, via Wikimedia Commons (originally from Flickr), licensed under Creative Commons Attribution–ShareAlike 2.0 (CC BY-SA 2.0).

Senate Democrats Call for Hearing on OFAC’s Russian Oil Sanctions Waiver

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.

A photograph of the large-scale oil containers of India Oil

U.S. Treasury Eases Restrictions on Russian Oil Sales as Crude Costs Rise

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.