OFAC is capable of extending a long-arm of enforcement, reaching sometimes non-U.S. companies that may “cause” another company to violate U.S. Sanctions laws. If you need to find an.
The United States fined a Thailand-based firm $20 million on Friday for more than 450 possible Iran sanctions violations a day after Washington slapped fresh sanctions on Iran following last weekend's attack on Israel.The announcement comes a day after the United States and Britain announced widespread sanctions against Iran's military drone program in response to Tehran's large-scale attack against Israel over the weekend, which involved more than 300 drones and missiles.
Oil prices rose in early trade on Thursday after the United States announced the reinstatement of oil sanctions on Venezuela, with a slight recovery from previous losses. Learn more about the impact on oil markets and global geopolitics.
U.S. lawmakers have tucked sanctions on Iran's oil exports in the House of Representatives' aid package for Ukraine, Israel and the Indo-Pacific after Tehran's missile and drone strike on Israel last weekend. If passed through both the House and Senate and signed by President Joe Biden and then implemented and enforced, the measures could eventually impact Iran's oil exports.