New Sanctions Against Two Men Located in China: For Supporting North Korean Air Carrier

November 14, 2022 by Leave a comment

The U.S. Treasury Department’s Office of Foreign Asset Control (OFAC) is issuing new sanctions against two persons located in China:

  • RI, Sok
    • Location: Dandong, China
    • DOB 28 Jul 1973
    • nationality North Korea
    • Gender Male
  • YAN, Zhiyong
    • Location:Beijing, China
    • DOB 15 Feb 1980
    • POB Shandong, China;
    • nationality China
    • Gender Male

Both men are sanctioned because they acted on behalf of Air Koryo, the national airline of the Democratic People’s Republic of Korea (North Korea), which is itself a sanctioned business.

All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with either gentleman. Thus, you should ensure that you are not transacting business with either one. You may want to examine your past transactions and identify whether there is information that needs to be self-disclosed to the government.

These sanctions are expected to be published tomorrow, but the sanction orders were effective as of November 7, 2022.

We recommend that you check every export transaction for compliance. For more on aircraft parts export compliance, watch our export webinars, which are available on-demand through ASA. They are free for ASA members and they are available for a nominal fee to non-members.

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New Burmese Sanctions Include Sky Aviator Company

November 14, 2022 by Leave a comment

The U.S. Treasury Department’s Office of Foreign Asset Control (OFAC) is issuing new sanctions against Burmese people and entities, including a business known as Sky Aviator Company.

The new sanctions are scheduled to be published tomorrow, but the sanction orders were effective as of November 8th, 2022.

OFAC sanctions typically prohibit all U.S. persons from engaging in transactions with the blocked parties. If you have a potential transaction with a blocked person or entity (blocked under OFAC sanctions), then you typically need to obtain an OFAC license (or identify an applicable OFAC general license) before you may complete the transaction.

As always, we recommend carefully performing export due diligence on every export transaction. The sanctions lists change almost every day, and many aviation companies are subject to U.S. sanctions. If you are not sure how to perform this due diligence, then we strongly recommend watching our export videos through ASA’s Webinar Series. These videos are free to ASA members and available at a nominal charge to non-members. The on-demand ASA export webinars include:

  • Export Training
  • Export Compliance – A Step-By-Step Approach (Part One: OFAC)
  • Export Compliance – A Step-By-Step Approach (Part Two: BIS)
  • Export Compliance – Licensing and Exceptions: Jason’s Favorite Licensing Exceptions (Part Three)
  • Exporting Defense Material and Complying with the ITAR (Part Four)
  • Exporting Successfully in a Challenging Global Environment (by Elena Mendez, Regional Director, The Export-Import Bank of the United States)

 

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US Issues New Export Sanctions Against Burundi

November 23, 2015 by Leave a comment

The United States has issued new export sanctions against Burundi.  This primarily will affect transactions involving persons listed as Specially Designated Nationals by the Treasury Departments’ Office of Foreign Asset Control (OFAC).

Companies exporting from the U.S. to Burundi, or re-exporting articles subject to U.S. jursidiction, should clarify whether their export partners are now affected by U.S. export sanctions against Burundi.

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