Sanctions Round-Up: Second Quarter 2013
07/12/2013The end of the second quarter was marked by a flurry of Iran related activity, with President Obama authorizing new sanctions targeting Iran and OFAC preparing for IFCA sanctions that came into effect on July 1. OFAC otherwise continued to target human rights abusers, foreign sanctions evaders, and North Korea’s nuclear weapons and ballistic missile programs. Meanwhile, OFAC’s issuance of a new licensing policy and a waiver authorizing certain transactions in support of Syrian opposition forces mirrored the Obama administration’s evolving policy toward greater involvement in the Syrian conflict. Minor changes were also made to US sanctions targeting Burma and Sudan. Additionally, both OFAC and the NY Department of Financial Services announced settlements regarding sanctions violations at the end of the second quarter.
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