Denied Party Digest

Valuable information about denied party screening

Not Just Venezuela: Marshall Islands and Greek Companies Added to SDN List as Venezuela-Related

On Tuesday, June 2, 2020, the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC) added four entities and four vessels to the Specially Designated Nationals and Block Persons List (SDN List).

Three of the companies and vessels hail from the Marshall Islands, while one pair hails from Greece.  This serves as an important reminder that not only does the SDN list change frequently, but screening only when a country of concern comes up is not enough to maintain export compliance.  Sanctions directed at one country, such as Venezuela, frequently ensnare entities from other countries that are doing business with the sanctioned country. 

For more information, visit OFAC’s press release for this action.