Yesterday's OFAC actions

Yesterday, the Treasury Department announced that OFAC has sanctioned 13 companies in multiple jurisdictions facilitating the sale of hundreds of millions of dollars’ worth of Iranian petrochemicals and petroleum products to buyers in East Asia on behalf of sanctioned Iranian petrochemical brokers Persian Gulf Petrochemical Industry Commercial Co. and Triliance Petrochemical Co. Ltd., as well as the National Iranian Oil Company and its marketing arm, Naftiran Intertrade Company Ltd.

Treasury also announced that OFAC has designated La Nueva Familia Michoacana and its co-leaders, Johnny Hurtado Olascoaga and Jose Alfredo Hurtado Olascoaga for their involvement in the international proliferation of illicit drugs or their means of production. La Nueva Familia Michoacana smuggles illicit drugs into and throughout the United States. It is also behind the increasing U.S. presence of rainbow fentanyl, which, according to the U.S. Drug Enforcement Administration, appears in the form of pills/powder that come in a variety of bright colors, shapes and sizes and is made to attract children and young users.

For identification information on the designated parties under both of the OFAC actions, see BankersOnline’s OFAC Update.