The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed a new round of sanctions, among which it targets the Turkish port MMK Turkey.
OFAC’s designations today were taken in tandem with the U.S. Department of State, which imposed additional sanctions on entities and individuals, as well as visa restrictions. Together, the State and Treasury actions impose severe costs for those who support President Vladimir Putin’s war.
Specifically, OFAC designated MMK Metalurji, which operates and owns two steel facilities in Turkey, as well as a seaport that is located in Hatay, Dortyol, Turkey.
MMK Metalurji was designated for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, MMK, a person whose property and interests in property are blocked pursuant to E.O. 14024.
As a result of this action, all property and interests in property of the persons above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC.
In addition, any entities that are owned, directly or indirectly, 50% or more by one or more blocked persons are also blocked. All transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or blocked persons are prohibited unless authorized by a general or specific license issued by OFAC, or exempt.
These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person.
