OFSI has published the information-sharing Memorandum of Understanding (MOU) with the Office for Foreign Assets Control (OFAC) dated 9 October 2024. The MOU is said to enhance OFSI's and OFAC's collective ability to collaborate and share information, further fortifying their coordinated efforts i...
Part 4 makes provision to correct or resolve a number of issues arising from the 2019 Regulations or amendments made to them: first, to expand upon the definition of ownership in relation to ships and aircraft; and second, to correct drafting errors or omissions in regulations 76, 78 and 94...
and an Arab state. The plan, although accepted by the internationalcommunity, was rejected by the Arabs, and in May 1948, as British forces withdrew, Israel was born in a region with unresolved disputes over borders, security, land ownership, and other matters. Since that time, Israel has ...
TheUS Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned nine individuals and seven entities, including banks, that provided financial and military support to North Korea. OFAC cited North Korea's support for Russia's war effort and recent ballis...
Sanctions control & ownership Understand what subjects are owned or controlled by a sanctioned entity or individual. Our specialist research team has identified more than 49,000 companies owned or controlled by individuals, entities or regions sanctioned by OFAC, the EU, the UK, and seven other ju...
ownership of the vessel are long past. Liberia, Panama and the Marshall Islands now account for nearly half of the global fleet, by tonnage. Countries with loose ties to seafaring have been dubbed “flags of convenience” for levying low or no taxes and offering an escape from burdensome ...
Sanctions Provisions. (a) Each Borrower shall, and shall procure that the Guarantor and each other Security Party shall, in respect of any charterer of any of the Ships (including any Approved Charter...
Lloyd’s List Intelligence calls the ships the "dark fleet." A group of U.S. congressional representatives used the term "ghost armada." The fleet is anywhere from 300 to 560 ships. The common traits are anonymous ownership, or at least ownership that is hard to track. The ships are usu...
The Office of Foreign Assets Control of the US Department of Treasury imposed sanctions against three private entities and one individual for assisting in the development and production of Russia’s Garpiya series long-range attack unmanned aerial vehicl
often concealing identities and objectives. This underscores the need for U.S. persons to carefully scrutinize transactions for beneficial ownership, and in the case of goods and services, end-use, and to look beyond immediate, declared counterparties, and beneficiaries. Indeed, OFAC’s actions are...