OFAC sanctions Syrian individuals and entities
On November 9, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned 10 entities and seven individuals, including Syrian military officials, members of the Syrian Parliament, Syrian government entities, and various Syrian and Lebanese persons for allegedly supporting Bashar al-Assad regime’s petroleum industry. The individuals and entities were designated pursuant to Executive Orders 13852, 13573, and 13572. As a result, all property and interests in property belonging to the designated individuals and entities subject to U.S. jurisdiction are blocked and must be reported to OFAC. OFAC noted that its regulations “generally prohibit all dealings by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked or designated persons,” and warned that non-U.S. persons that engage in transactions with the designated persons may expose themselves to designation.