Iran-related and Counter Terrorism Designations; Licensing Policy Update under Operation Economic Outcast; Settlement Agreement between OFAC and an Individual
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Key facts
Source:US Treasury OFAC (U.S. Government work, public domain)
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced several updates regarding international sanctions enforcement. As part of "Operation Economic Outcast," OFAC has modified its licensing policy concerning Iran. The agency will now operate under a presumption of denial for most Iran-related specific license applications, with exceptions only for specific legal requirements or urgent situations involving environmental safety or risks to life and limb.
In a separate enforcement action, OFAC announced that an unnamed individual has agreed to pay over $1.4 million to settle civil liabilities. The settlement follows allegations that the individual provided advisory and management consulting services to a major Iranian software firm, received dividends from Iranian sources into U.S. bank accounts, and purchased real estate located in Iran. The investigation into this matter was conducted in partnership with the FBI’s Los Angeles Field Office.
Additionally, OFAC has updated its Specially Designated Nationals (SDN) List with several new designations. Several Iraqi nationals, including Khaldoon Naser Maryo Sabra Al Abada, Abdullah Nadhim Luaibi Al Ameri, Hussein Ahmed Hussein Al-Dhuhibaawi, Karrar Mohammed Qasim Al-Hraishawi, and Ali Hasan Farhan Al-Lami, were sanctioned under terrorism-related programs, specifically linked to groups such as Kata'ib Hizballah and AIN AL IRAQ.
The updates also included the designation of Amir Al-Makansi under Hizballah financial sanctions regulations. Furthermore, Abdulhasan Ali Akbar Namdar Al-Mandalawi and Majid Ali Akbar Namdar Al-Mandalawi, both linked to Shams and Bahr Trading Company L.L.C., were added to the list under Iran-related sanctions pursuant to Executive Order 13902.
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Disclaimer. Strait Up Maritime aggregates and summarises sanctions-related news from public-domain government sources (US Treasury OFAC, UK OFSI). Summaries are generated automatically by AI and may contain inaccuracies. We do not warrant the accuracy, completeness, or timeliness of any content on this page. Strait Up Maritime is a journalism and information service, it is not a substitute for legal counsel, regulatory advice, or official sanctions verification. Use of this content is governed by our Terms of Use and News Aggregation Policy.