Lates News

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced on October 15 that it has added 16 Iran-related individuals and several companies and financial institutions to its sanctions list, including Iraq International Development Investment and Finance Bank, Iran's Chabahar International Offshore Bank, Jazeera International Bank, and several currency exchange companies. At the same time, the United States added Cuba's International Commercial Bank (BICSA) to the sanctions list. In addition, OFAC issued two Russia-related general licenses, respectively authorizing certain transactions involving Lukoil retail gas stations outside Russia and Lukoil-related entities in Bulgaria. OFAC also issued an Iran-related general license allowing for the orderly wind-down of transactions involving International Development Investment and Finance Bank.