The Department of the Treasury is soliciting comments on its proposed regulations addressing potential national security issues posed by U.S. investments in locations deemed countries of concern under an executive order on national security technologies and products. The Treasury issued a notice of proposed rulemaking in compliance with Executive Order 14105, under which the department...
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Tag: Department of the Treasury
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US Treasury Sanctions Iran-Affiliated Company Supplying Drones to Russia
Sahara Thunder, a company identified as a front for Iran’s Ministry of Defense and Armed Forces Logistics, faces sanctions in the United States for facilitating the design, development, manufacture and sale of drones in support of Russia’s war in Europe. According to the Department of the Treasury’s Office of Foreign Assets Control, the Russian government...
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Treasury Designates Companies, Individuals Supporting Iranian Cyberattacks on US Entities; Brian Nelson Quoted
The Department of the Treasury’s Office of Foreign Assets Control has imposed sanctions on two companies and four individuals linked to Iran-backed cyber operations that targeted a dozen U.S. companies and government entities. The designated companies and individuals are Iranian Islamic Revolutionary Guard Corps Cyber Electronic Command front company Mehrsam Andisheh Saz Nik; IRGC-CEC-affiliated cyber...
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Treasury Designates Companies, Vessels Shipping Commodities to Finance Houthis
The Department of the Treasury’s Office of Foreign Assets Control has sanctioned several foreign companies and vessels for transporting commodities to finance the terror activities of the Houthi militant group. According to the agency, Marshall Islands-based Reneez Shipping and the Hongkong Unitop Group operated Palau-flagged Reneez and Panama-flagged Eternal Fortune, respectively, to ship cargos on...
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US Designates Two Companies Over Links to Russia’s Wagner Group
The U.S. Department of the Treasury has sanctioned Russian company Broker Expert and Central African Republic-based Wood International Group for supporting the Wagner Group, a Russian state-funded private military company. According to the department’s Office of Foreign Assets Control, the Wagner Group has launched actions threatening the peace, security, stability, sovereignty, or territorial integrity of...
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US Treasury Designates Entities, Individuals Involved in Iranian Drone, Missile Production
The Department of the Treasury’s Office of Foreign Assets Control has designated 16 individuals and several entities for enabling Iran’s production of unmanned aerial vehicles and ballistic missiles used in a weekend attack against Israel. Companies and individuals subject to assets and trade restrictions include Oje Parvaz Mado Nafar Co. and its CEO Mohammad Sadegh...
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US Sanctions Money Laundering Network Supporting Somali Militant Group al-Shabab
The United States has sanctioned a network of individuals and entities that raise and launder money for Somalia-based al-Shabaab. According to the Department of the Treasury’s Office of Foreign Assets Control, the al-Qaida affiliate is a militant group responsible for attacks in East Africa that have killed thousands of innocent civilians. The sanction targeted eight...
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US Sanctions Iran-Based Al-Ashtar Brigades Members
The Department of the Treasury’s Office of Foreign Assets Control, in coordination with Bahrain, has designated four Iran-based Al-Ashtar Brigades members. Sanctions were imposed on Hussein Ahmad ‘Abdallah Ahmad Hussein Al-Dammami, Ali Abdulnabi Ahmed Ebrahim M Alshofa, Hasan Ahmed Radhi Husain Sarhan and Isa Saleh Isa Mohamed Salman for supporting AAB, including by facilitating lethal,...
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US Designates Procurement Networks Supporting Iranian Defense Sector; Brian Nelson Quoted
The United States has imposed sanctions on three procurement networks for supplying designated Iranian entities with materials for the production of military weapons under Iran’s ballistic missile, nuclear and defense programs. The Department of the Treasury’s Office of Foreign Assets Control has designated Iranian-German national Maziar Karim, his companies Mazixon GmbH and Co KG and...
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US, Finland Sign MoU to Exchange Data, Best Practices on Cybersecurity
The United States and Finland have agreed to exchange cybersecurity information to strengthen both nations’ resilience against current and emerging threats. On March 13, representatives from the U.S. Department of the Treasury and the Finnish Ministry of Finance signed a cybersecurity cooperation memorandum of understanding. “This partnership will help Treasury protect the financial sector from...