Tag: US Treasury

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued three separate and related general licenses (GLs) relevant to the sanction programmes targeting Iran, Syria, and Venezuela.

The United States blacklisted oil trading firms, individuals and ships that have helped Venezuelan oil company PDVSA, sell crude mainly to Asia, despite Washington's sanctions on the South American nation.

US Goverment recently imposed sanctions on 11 companies for reportedly enabling the shipment and sale of Iranian petrochemicals.

Following OFAC's decision on issuing sanctions against COSCO companies, many were those affected, as well as the US-listed Teekay Group that has been qualified as a 'blocked person'.