OFAC MAKES CHANGES TO SDN LIST
September 18, 2017
On August 22, 2017, the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) made significant changes to its Specially Designated Nationals (SDN) List. As you may recall from prior updates, OFAC maintains a list of individuals and companies whose assets are blocked and with whom U.S. persons are generally prohibited from dealing. In most cases, entities listed are owned or controlled by, or acting for or on behalf of, targeted countries. The SDN list also includes individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific.
Notably, OFAC has (1) removed approximately 4,900 Cuba-focused Internet domain names from its SDN and Blocked Persons List, all of which are primarily associated with travel related websites; and (2) added numerous individuals and entities from countries such as North Korea, China, Namibia, and Russia.
The newest additions to the SDN list include:
Individuals
- CHI, Yupeng (Linked To: DANDONG ZHICHENG METALLIC MATERIAL CO., LTD.).
- HUISH, Irina Igorevna (Linked To: VELMUR MANAGEMENT PTE LTD).
- KIM, Tong-chol (Linked To: MANSUDAE OVERSEAS PROJECT GROUP OF COMPANIES; Linked To: MANSUDAE OVERSEAS PROJECTS ARCHITECTURAL AND TECHNICAL SERVICES (PTY) LIMITED; Linked To: QINGDAO CONSTRUCTION (NAMIBIA) CC).
- KIRAKOSYAN, Ruben Ruslanovic (Linked To: GEFEST-M LLC; Linked To: KOREA TANGUN TRADING CORPORATION).
- PISKLIN, Mikhail Yur’evich
- SERBIN, Andrey
Entities
- DANDONG RICH EARTH TRADING CO., LTD. (Linked To: KOREA KUMSAN TRADING CORPORATION).
- DANDONG TIANFU TRADE CO., LTD.
- DANDONG ZHICHENG METALLIC MATERIAL CO., LTD.
- GEFEST-M LLC (Linked To: KOREA TANGUN TRADING CORPORATION).
- JINHOU INTERNATIONAL HOLDINGS CO., LTD.
- MANSUDAE OVERSEAS PROJECTS ARCHITECTURAL AND TECHNICAL SERVICES (PTY) LIMITED (Linked To: MANSUDAE OVERSEAS PROJECT GROUP OF COMPANIES).
- MINGZHENG INTERNATIONAL TRADING LIMITED (Linked To: FOREIGN TRADE BANK OF THE DEMOCRATIC PEOPLE’S REPUBLIC OF KOREA; Linked To: SUN, Wei).
- QINGDAO CONSTRUCTION (NAMIBIA) (Linked To: MANSUDAE OVERSEAS PROJECTS ARCHITECTURAL AND TECHNICAL SERVICES (PTY) LIMITED; Linked To: MANSUDAE OVERSEAS PROJECT GROUP OF COMPANIES).
- TRANSATLANTIC PARTNERS PTE. LTD.
- VELMUR MANAGEMENT PTE LTD (Linked To: TRANSATLANTIC PARTNERS PTE. LTD.).
If you have any questions, please contact Evelyn Sahr (esahr@eckertseamans.com, 202-659-6622) or Drew Derco (dderco@eckertseamans.com, 202-659-6665).
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