OFAC announces sanctions tied to drug trafficking

Financial Crimes Department of Treasury OFAC SDN List OFAC Sanctions OFAC Designations Of Interest to Non-US Persons Drug Enforcement Administration Department of Homeland Security

On November 9, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions pursuant to Executive Order 14059 against three individuals and nine entities for supplying certain drugs to U.S. markets through internet sales and a host of shell companies. OFAC noted that the sanctions would not have been possible without collaboration with the Drug Enforcement Administration and Homeland Security Investigations. As a result of the sanctions, all property and interests in property belonging to the sanctioned persons subject to U.S. jurisdiction are blocked and must be reported to OFAC. Additionally, “any entities that are owned, directly or indirectly, 50 percent or more by one or more blocked persons are also blocked.” U.S. persons are also generally prohibited from engaging in any dealings involving the property or interests in property of blocked or designated persons. Persons that engage in certain transactions with the designated individuals or entities may themselves be exposed to sanctions or enforcement action, OFAC warned.