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: