International Trade Law News /title <!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN" ""> <html xmlns="" xml:lang="en" lang="en"> <meta name="verify-v1" content="6kFGcaEvnPNJ6heBYemQKQasNtyHRZrl1qGh38P0b6M=" /> <head> <title>International Trade Law News

« Home | Commercial Spaceflight Industry Facing Export Cont... » | This Week at the U.S. International Trade Commissi... » | U.S. Designates Two Latvian Banks as Money Launder... » | Article Describes Effect of Payment of OFAC's New ... » | Senate Finance Committee Holds Hearing on Nominati... » | ITC Issues Negative Final Injury Determinations on... » | FinCEN Issues New Edition of the SAR Review » | This Week at the U.S. International Trade Commissi... » | This Week at the U.S. International Trade Commissi... » | Third Circuit Reinstates Conviction of Businessman... » 

April 26, 2005 

OFAC Adds Global Arms-Trafficking Network to SDN List

The Treasury Department's Office of Foreign Assets Control (OFAC) today added the names of 30 companies and four individiuals to the list of Specially Designated Nationals (SDN List) that are believed to be linked to international arms dealer Victor Bout. The U.S. government claims that Bout runs a network of air cargo companies that are based in various countries in the Middle East, Africa, Eastern Europe and the U.S. In addition, Bout is said to control what is reputed to be the largest private fleet of Soviet-era cargo aircraft in the world.

OFAC's action was taken under the authority of
Executive Order 13348 which allows the U.S. government to block the assets of people connected to former Liberian President Charles Taylor. Bout was designated as a SDN in July 2004 because of his association with Taylor. Today's action not only blocks any U.S. bank accounts and other financial assets belonging to these companies and persons in the U.S. but also prohibits U.S. persons and companies from engaging in any transactions with them. Several of the companies added to the SDN list are located in Richardson, Texas, a Dallas suburb. The U.S. will submit the names of the 30 companies and four individuals to the U.N. Sanctions Committee established by U.N. Security Council Resolution 1521, which will consider adding them to the consolidated list of individuals and entities tied to Taylor. The complete list of the 34 new SDNs can be found at the following link:



Subscribe to our confidential mailing list

Mobile Version

Search Trade Law News

International Trade and Compliance Jobs

Jobs from Indeed




  • This Site is presented for general informational purposes only and does not constitute legal advice. No attorney-client relationship is formed when you use this Site. Do not consider the Site to be a substitute for obtaining legal advice from a qualified attorney. The information on this Site may be changed without notice and is not guaranteed to be complete, correct or up-to-date. While we try to revise this Site on a regular basis, it may not reflect the most current legal developments. The opinions expressed on this Site are the opinions of the individual author.
  • The content on this Site may be reproduced and/or distributed in whole or in part, provided that its source is indicated as "International Trade Law News,".
  • ©2003-2015. All rights reserved.

Translate This Site

Powered by Blogger