OFAC focuses on Venezuela, Iran UAVs and ISIS in New Year actions
The US Treasury Department’s Office of Foreign Assets Control (‘OFAC’) has had a busy start to 2023, having announced actions including:
Venezuela: On 9 January, issuing a general license permitting US persons to transact with members of Venezuela’s IV National Assembly which seated on January 5, 2016; ‘its Delegated Commission; any entity established by, or under the direction of, the IV National Assembly to exercise its mandate (“IV National Assembly Entity”); or any person appointed or designated by, or whose appointment or designation is retained by, the IV National Assembly, its Delegated Commission, or a IV National Assembly Entity, including their respective members and staff.’
The licence does not permit any transaction ‘involving the Venezuelan National Constituent Assembly convened by Nicolas Maduro or the National Assembly seated on January 5, 2021, including their respective members and staff.’
https://home.treasury.gov/system/files/126/venezuela_gl31b.pdf
ISIS: On 5 January, taking joint action with the government of Turkey, designating ‘critical nodes of a key financial facilitation network of the Islamic State of Iraq and Syria (ISIS), which included four individuals and two entities in [Turkey], who have enabled the terrorist group’s recruitment and financial transfers to and from Iraq and Syria.’
The network, said OFAC, ‘Played a key role in money management, transfer, and distribution for ISIS in the region. Concurrently, the Turkish Ministry of Treasury and Finance, together with the Ministry of Interior, have implemented an asset freeze against members of this network.’
https://home.treasury.gov/news/press-releases/jy1182
Iran UAV support for Russia: On 6 January, announcing the designation of ‘six executives and board members of U.S. designated Qods Aviation Industries (QAI), a key Iranian defense manufacturer responsible for the design and production of unmanned aerial vehicles (UAVs).
‘Iran has transferred these UAVs for use in Russia’s unprovoked war of aggression in Ukraine. OFAC is also updating QAI’s entry on the Specially Designated Nationals and Blocked Persons List (SDN List) to include its new alias, Light Airplanes Design and Manufacturing Industries [and the designation of] the director of Iran’s Aerospace Industries Organization (AIO), the key organization responsible for overseeing Iran’s ballistic missile programs.’
