OFAC

OFAC’s $14.5M Blow to Aiotec for U.S. Sanctions Violation

The U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) announced a hefty penalty against Aiotec GmbH, a company based in Berlin, Germany....

OFAC Sanctions Gemini Marine for Illicit Transportation of Russian and Iranian Oil

The Office of Foreign Assets Control (OFAC) has recently sanctioned Gemini Marine, a tanker company based in the Marshall Islands. This action is part...

US Intensifies Crackdown on Chinese Suppliers of Illicit Dual-Use Goods to Houthis

On October 2, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a new...

The Wagner Group Escapes Sanctions and Continues Operations in Africa

The Wagner Group, a private military company (PMC) established in 2014, has garnered attention for its clandestine operations in...

U.S. Sanctions Syrian Shipping Tycoon and Chinese Firms in Crackdown on Iran and Hezbollah

In a new round of sanctions, the U.S. Treasury Department has tightened the noose on a network of shipping...

U.S. Treasury Strikes Hard at Sinaloa Cartel: Sanctions on Ice Cream Chain and Pharmacy

In a significant move to curb the financial activities of the Sinaloa Cartel, the U.S. Treasury Department recently announced...

Russia Reeling from Expanded U.S. Sanctions: Chinese, Turkish Companies Targeted

In a continued effort to punish Russia for its ongoing war in Ukraine, the U.S. Treasury Department, in collaboration...

State Street Bank Settles $7.45 Million Penalty Over OFAC Sanctions Violations

In a notable enforcement action, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has revealed...
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