All Department of Treasury articles

  • USIranChess

    OFAC designates new sanctions against Iran’s metals industry


    Sanctions compliance officers should be on alert following several new sanctions designated by the Office of Foreign Assets Control against Iran’s largest steel, aluminum, copper, and iron manufacturers.

  • HumanRights

    Treasury sanctions 18 individuals connected to human rights abuse


    The Office of Foreign Assets Control has added 18 individuals across six geographies to its Specially Designated Nationals list for their roles in serious human rights abuse. Six entities have also been added to the list.

  • Treasury

    Bill demands ownership reveals for shell companies


    The newly proposed ILLICIT CASH Act would, for the first time, require shell companies to disclose their true owners to the U.S. Department of Treasury.

    Blog post

    U.S. Treasury sanctions Petroleos de Venezuela


    The Department of the Treasury’s Office of Foreign Assets Control has designated Venezuelan state-owned oil company Petroleos de Venezuela under Executive Order 13850 for operating in the oil sector of the Venezuelan economy.

  • USRussia
    Blog post

    Treasury lifts sanctions on Rusal, En+, ESE


    The U.S. Department of Treasury announced that it has lifted sanctions on three companies controlled by Russian oligarch Oleg Deripaska: power company EuroSibEnergo, aluminum producer UC Rusal, and Rusal’s parent company, En+ Group. Following this news, En+ Group announced an overhaul of its board of directors.

  • Blog post

    Bitcoin ‘addresses’ added to sanctions screening


    For the first time, the Treasury Department has added digital currency identifiers on its sanctions blacklist. It has also drafted new guidance on how those transactions should be identified and reported.

  • Article

    Government clears way for FinTech firms to compete with banks


    In separate developments announced July 31, the U.S. Department of Treasury and the Office of the Comptroller of the Currency paved the way for FinTech firms and other non-banks to more easily compete with traditional banks. Once again, opponents are threatening legal action.