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...The change was made “in compliance with Ofac requirements”, said the message, which seen by the Financial Times. Bank of Georgia did not immediately respond to a request for comment....
...In December, Caracas signed a licence for Shell to operate the Dragon gasfield together with Trinidad and Tobago’s National Gas Company, a deal licensed by the US sanctions body Ofac....
...Angotti said Ofac was likely to expand its list of banned investments to include the debt and equity of companies already named in other government blacklists....
...The US and UK last year moved to bolster their own bilateral co-ordination on sanctions implementation and enforcement, and Brussels has been considering setting up its own version of Ofac....
...the former Ofac official added. What’s your take on crypto’s role in disinformation campaigns? As always, email me at scott.chipolina@ft.com....
...Yesterday’s OFAC FAQ is annoyingly silent on this issue....
...“This sale represents both a conflict of interest as well as a likely violation of a Lebanese law prohibiting employees of the BdL from profiting from other private businesses,” Ofac’s statement said....
...(Harpers) — OFAC sanctions tracker: how sanctions impact crypto crime (Chainalysis) — LK-99 isn’t a superconductor (Nature) — Will Britain ever build beautiful? (Unherd)...
...Last year, the Office of Foreign Assets Control (Ofac), the Treasury division that enforces economic sanctions, targeted two mixing services, Blender.io and Tornado Cash, alleging they had helped North Korea-backed...
...This could include creating an agency similar to Ofac, which is in charge of economic and trade sanctions enforcement in the US....
...“It is reportedly Qaddour who is responsible for managing revenues generated by these activities,” Ofac said....
...The penalties include a $508mn civil settlement agreement with the US Office of Foreign Assets Control, which enforces US sanctions, the largest settlement Ofac has arranged with a non-financial institution...
...Ofac, the arm of the Treasury Department in charge of sanctions, now seems concerned about the kind of trading described in the FT piece....
...(Bloomberg $) — Tornado Cash OFAC’ed around and found out. (Lawfare) — An oral history of Tim Curry’s escape to the “one place uncorrupted by capitalism.”...
...Ofac also determined the exchange “conveyed economic benefit to thousands of persons in several jurisdictions subject to Ofac sanctions and thereby harmed the integrity of multiple Ofac sanctions programs...
...Ofac said it was placing sanctions on eight individuals, 16 entities and four aircraft in an effort to “degrade the Russian Federation’s capacity to wage war against Ukraine”....
...Ofac said the transactions were valued at $1.68mn. “Due to Kraken’s failure to timely implement appropriate geolocation tools . . ....
...that are published on OFAC’s SDN List or that are operated by persons and entities that have been sanctioned by Ofac....
...The list of individuals and entities sanctioned by the US Treasury’s Office of Foreign Assets Control (Ofac) now runs to 2,206 pages and lists more than 12,000 names....
...Ofac said the sanctions, along with concurrent restrictions from the US state department, will target the infrastructure that Russia has used in its battlefield operations in Ukraine....
...Evidence presented by Ofac on Tuesday also suggests that BAT intentionally concealed its sanctions violations from financial institutions....
...In May, Ofac imposed sanctions on Blender.io, another crypto mixing service, for its role in assisting Lazarus to launder over $20mn in “illicit proceeds”....
...“The Ofac sanctions are not a joke . . . if you don’t do this well, you end up in jail,” Zhao said at the time....
...Monday’s action follows similar sanctions imposed on Blender.io, another crypto mixing service that Ofac said was used in a North Korea-backed crypto theft....
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