The Office of Foreign Assets Control announced two separate settlement agreements this week, fining a Switzerland- and a Monaco-based wealth management company for violating U.S. sanctions. OFAC said both companies committed violations due to “deficiencies” in their sanctions compliance practices.

The Office of Foreign Assets Control last week updated an Iran-related general license and guidance to expand the types of internet and communications services and exports that can be provided to Iran. Updated General License D2 “dramatically increases” U.S. support for internet freedom in Iran, a State Department official said, adding that the announcement brings U.S. sanctions guidance "in line with changes in modern technology.”

The Office of Foreign Assets Control sanctioned Iran’s Morality Police for abuse and violence against Iranian women peacefully protesting, according to a Sept. 22 news release. OFAC also targeted seven "senior leaders" of Iran’s security organizations: the Morality Police, Ministry of Intelligence and Security, the Iranian army, the Basij Resistance Forces and Law Enforcement Forces. OFAC said the sanctioned officials "oversee organizations that routinely employ violence" to suppress various groups within Iran.

The Office of Foreign Assets Control this week issued a reminder to industry to file annual reports on blocked property by Sept. 30 (see 2207010054). The notice applies to blocked property held as of June 30.

The Office of Foreign Assets Control has designated 22 individuals and two entities connected with Russia's war in Ukraine. The designated individuals have furthered Russia's objectives in Ukraine, both before and during the invasion, OFAC said in a Sept. 15 notice. “Today we’re taking steps to further degrade Russia’s ability to rebuild its military, hold perpetrators of violence accountable, and further financially isolate Putin," Treasury Secretary Janet Yellen said in a news release.

The Office of Foreign Assets Control designated one Zimbabwean and removed 11 others from the Specially Designated Nationals List under the Zimbabwe sanctions program, which targets human rights abusers and underminers of democratic processes, according to an OFAC news release.

The Office of Foreign Assets Control on Sept. 15 issued two determinations to restrict certain quantum computing-related activities with Russia. One directive, effective immediately, imposes sanctions on Russia's quantum computing sector. The second directive, which will take effect at 12:01 a.m. EDT on Oct. 15, will prohibit the exportation, reexportation, sale or supply of quantum computing services to Russia. The prohibitions aim to "further degrade Russia’s ability to reconstitute its military with advanced technology," OFAC said.

The Office of Foreign Assets Control sanctioned 10 individuals and two entities for their roles in conducting malicious cyber acts, it said in a Sept. 14 notice. The designations are part of a joint action with the State Department, DOJ, FBI, U.S. Cyber Command, NSA, and the Cybersecurity and Infrastructure Security Agency. The designated individuals and entities are affiliated with Iran’s Islamic Revolutionary Guard Corps (IRGC). OFAC said the action "continues the series of designations that aim to protect U.S. persons from ransomware activity, facilitators of ransomware activity, and other cybercrime."

The Office of Foreign Assets Control on Sept. 13 updated a narcotics-related entity on its Specially Designated Nationals List. The agency updated information for Hassein Eduardo Figueroa Gomez, first sanctioned in 2012 (see 12041305) for ties to a Mexican drug cartel.

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