sanctions

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) continues to add air and marine cargo services providers to its list of sanctioned individuals and entities that conduct business with Iran. On Dec. 11, OFAC placed three foreign air cargo general sales agents and a vessel...

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has imposed trade sanctions on Cambodian timber magnate Try Pheap for his role in illegally harvesting and exporting timber. The agency said Pheap uses corrupt practices, which involve Cambodian government and military...

U.S. House lawmakers voted overwhelmingly in favor of legislation to impose stiff economic sanctions against Turkey's political and defense leadership for the country's recent military incursion into northern Syria. In an Oct. 30 statement, House Foreign Affairs Committee Chairman Eliot Engel, D-...

Donald Trump on Oct. 23 ordered the lifting of U.S. sanctions against three senior Turkish government officials and two ministries in response to Turkey's five-day ceasefire along the northern Syrian border.  "As a result of today's action, all property and interests in property, which had been...

The Treasury Department's Office of Foreign Assets Control (OFAC) on Oct. 17 extended a general license exception to allow U.S. companies to continue doing business with a Swedish oil refiner that is 50% owned by Venezuela's state oil company. Petrόleos de Venezuela S.A. (PdVSA) was placed on OFAC...

The U.S. has reached an agreement with Turkey that if a ceasefire with Syrian and Kurdish forces holds for the next five days, then recently announced U.S. sanctions against Turkey could be lifted.  The deal to lift the U.S. sanctions was announced by Vice President Mike Pence and Secretary of...

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) on Oct. 14 imposed economic sanctions on Turkey's Ministry of National Defense and Ministry of Energy and Natural Resources, as well as three senior government officials.  The financial sanctions came in response to President...

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has placed financial sanctions on a Moscow-based enterprise that it alleges used a "sanctions evasion scheme" to deliver jet fuel to the Russian military operating in Syria.  OFAC added Maritime Assistance LLC, a front company...

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has sanctioned the Central Bank of Iran and National Development Fund of Iran in retaliation for Iran's alleged involvement in multiple drone-operated missile strikes against several Saudi Arabian oil facilities on Sept. 14....

Bunker fuel providers are the filling stations to the world's ship fleet, but depending on their nationality, they must ensure that they don't run afoul of U.S. sanctions, according to the Treasury Department's Office of Foreign Assets Control (OFAC). This has become a complicated issue for ship...

A Hong Kong firm was sanctioned this week by the Treasury Department's Office of Foreign Assets Control (OFAC) for its alleged role in the illegal transshipment of "tens of millions of dollars' worth" of U.S.-origin technology and electronic components to Iran. The Hong Kong-based company, Green...

Arconic Inc (NYSE: ARNC) is a stock that's "bruised" trading south of $18 per share, but to say it's "broken" stock is a mistake, according to Longbow Research.  The Analyst Longbow Research's Chris Olin upgraded Arconic from Neutral to Buy with a new $23...

President Donald Trump on Wednesday signed legislation passed overwhelmingly by Congress that slaps Russia with new sanctions and restricts the scandal-plagued president’s ability to weaken them. Under enormous pressure to sign the bill into law while a special prosecutor probes Trump’s...

Exxon Mobil Corporation (NYSE: XOM) has filed a lawsuit against the U.S. government in response to a $2 million fine imposed on the oil company for violating sanctions prohibiting deals with Russia. The U.S. Treasury Department levied the fine on Thursday after reviewing the company’s joint...

The next several weeks could be a critical and historic time for U.S. and European economic ties with Russia, as linked to the ongoing crisis in Crimea and Ukraine. On Monday,The White House outlined its first sanctions against Moscow, following Russia's de facto occupation of Crimea and Sunday...