The Office of Foreign Assets Control July 19 again extended a general license that continues to delay an exemption that would authorize certain transactions related to Petroleos de Venezuela, S.A. General License 5L, which replaced GL 5K, now authorizes certain transactions with PdVSA involving an 8.5% bond on or after Oct. 20. The previous license was set to allow those transactions to occur on or after July 20.

The Office of Foreign Assets Control this week published two sets of previously issued general licenses in the Federal Register, including licenses under its Burma Sanctions Regulations, Syria Sanctions Regulations, Iranian Transactions and Sanctions Regulations, Global Terrorism Sanctions Regulations and Venezuela Sanctions Regulations. The full texts of the licenses are available in the notices.

Andrea Gacki is leaving her role as director of the Office of Foreign Assets Control to become the new director of the Treasury Department’s Financial Crimes Enforcement Network, the agency announced July 13. Treasury Secretary Janet Yellen said Gacki helped guide OFAC through “major world events,” including Russia’s invasion of Ukraine, and “expertly” deployed financial sanctions, industry guidance and enforcement actions “to hold accountable those who threaten our national security and the international financial system.”

Adam Hensel-Briscoe, former official at the Treasury Department's Office of Foreign Assets Control, has joined Squire Patton as a principal in its Washington, D.C., government investigations and white collar practice. Joining the firm from Akin Gump, Hensel-Briscoe worked at OFAC for over 12 years, serving as assistant director of the Office of Global Targeting's Narcotics, Crime, Africa and Western Hemisphere Division. His practice will center on "international trade, economic and trade sanctions laws, export control laws and other foreign policy and national security trade and investment controls," the firm said.

The Office of Foreign Assets Control this week deleted a range of entries from its Specially Designated Nationals List that were originally sanctioned for counter-narcotics reasons. The entries include people and entities based in Colombia. The agency didn’t release more information.

The Office of Foreign Assets Control this week sanctioned 10 people and one company involved in illegal Mexican drug trafficking, including precursor chemicals used in fentanyl. Those designated have ties to Mexico-based Sinaloa Cartel, OFAC said, and the measures follow a series of similar sanctions related to the group in recent months (see 2305090022, 2304140051 and 2301300010).

The Office of Foreign Assets Control on July 11 updated the Specially Designated Nationals List entry for Andrey Nikolayevich Ivanov, a Wagner Group official who has helped the sanctioned Russian private military company in weapons deals, mining activities and more. OFAC sanctioned Ivanov in June (see 2306270056).

The Office of Foreign Assets Control this week sanctioned Serbian official Aleksandar Vulin, who has been “implicated” in transnational organized crime, illegal drug operations and “misuse of public office.” Vulin, director of Serbia’s Security Information Agency, worked with U.S.-sanctioned Serbian arms dealer Slobodan Tesic by helping him move illegal arms shipments across the country’s border, and has also used his position to support Russia and give the country “a platform to further its influence in the region.”

The Office of Foreign Assets Control this week issued a final rule to implement a 2022 executive order that created new sanctions against terrorist organizations, criminal groups and others who take hostages (see 2207190045). The rule describes various prohibitions, gives licensing information, provides definitions, outlines penalties and recordkeeping requirements, and more. The Hostages and Wrongful Detention Sanctions Regulations are effective July 11.

The Office of Foreign Assets Control this week again renewed a Venezuela-related license that authorizes certain transactions related to exports or reexports of liquefied petroleum gas to Venezuela (see 2107120054 and 2207070032). General License No. 40B, which replaces General License No 40A, is valid through 12:01 a.m. EDT July 10, 2024. The license was scheduled to expire July 12.