Us Office Of Foreign Assets Control News

Chevron Corp has stepped up sales of Venezuelan crude oil to rival U.S. refiners, adding PBF Energy Inc and Marathon Petroleum Corp to its list of customers for the crude, vessel tracking and loading schedules showed.U.S. Gulf Coast refiners, which historically processed Venezuelan oil, have shown a renewed appetite for the heavy sour crude grade after Chevron late last year received authorization from the U.S. Treasury Department to expand its operations in Venezuela and resume oil shipments to the U.S. after a four-year pause.Chevron, the last big U.S.

The U.S. government has allowed some transactions to take place with a sanctioned oil supertanker in efforts to free the vessel stranded in Indonesian waters, the U.S. embassy in Singapore said on Wednesday. The Indonesian navy has been trying to free the Djibouti-registered ship, Young Yong, which ran aground off Indonesia's Riau Islands on Oct. 26 near a gas pipeline. The U.S. last week issued sanctions against an international oil smuggling network it said supports Hezbollah and Iran's elite Quds Force…

This article will focus on “noncomprehensive sanctions,” which target “Specially Designated Nationals” (SDNs), but otherwise do not prohibit most trade between the U.S. and the target country (if any). While there are multiple noncomprehensive sanctions programs, we will focus on three: Venezuela (which can be thought of as quasi-comprehensive), Global Magnitsky (human rights) and Hong Kong. Russia also has a substantial noncomprehensive sanctions program, which we will address in a later article.NONCOMPREHENSIVE SANCTIONS PROGRAMS: IN GENERALThe U.S.

This article will focus on U.S. sanctions generally, including the definition of “U.S. persons,” the application of the facilitation rules, the difference between primary and secondary sanctions, the 50% rule and various maritime advisories. The article will conclude with a few frequently asked questions."Traditionally, U.S. sanctions applied only to “U.S. persons,” which generally means a U.S. citizen or permanent resident; an entity organized in the U.S. (including foreign branches); and anyone in the US."U.S. sanctions overviewTraditional U.S.

The United States on Thursday lifted sanctions on Marshall Islands-based Delos Voyager Shipping Ltd and Greece-based Romina Maritime Co Inc that had been imposed last month over accusations the companies operated in the Venezuelan oil sector.The U.S. Treasury Department’s action lifted Venezuela-related sanctions on four companies, including Marshall-Islands based Adamant Maritime Ltd and Sanibel Shiptrade Ltd, as well as on four vessels.The move, which follows the delisting last month of other Greece- and Marshall Islands-based shipping firms, removed the remaining Greece-based companies blacklisted in June for transporting Venezuelan oil from the U.S.

The U.S. Office of Foreign Assets Control (OFAC) amended and reissued the Burmese Sanction Regulations. The sanctions, which come into effect immediately, ban virtually all imports into the United States of products of Burma and blocks most trade between the United States and Burma. Persons trading with both the United States and Burma should exercise extreme caution so as to avoid inadvertent violations of these sanctions. Comments on the new sanctions should be submitted by October 17. 70 Fed. Reg. 48240 (HK Law)

The U.S. Office of Foreign Assets Control (OFAC) issued Civil Penalties Enforcement Information