Yesterday (24 January), OFAC designated the following entities pursuant to Executive Order 13224 (counter-terrorism authority):
As a result, these entities are now subject to US asset freezes. Furthermore, any foreign financial institution that knowingly facilitates a significant transaction or provides significant financial services for any of these entities could be subject to US correspondent account or payable-through sanctions (secondary sanctions). See OFAC Notice and US Treasury Press Release.
Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...See profile for Michael O'Kane >