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Notice of OFAC Sanctions Action
Plain English Summary
The U.S. Treasury Department has added new individuals to its list of sanctioned persons, meaning they are blocked from accessing any property or assets in the U.S. This affects anyone who might want to do business with these individuals, as U.S. persons are not allowed to engage in transactions with them. Insurance agents should ensure they do not conduct business with anyone on this list to comply with these sanctions.
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The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC's Specially Designated Nationals and Blocked Persons List (SDN List) based on OFAC's determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.