The United States and Australia recently co-hosted a roundtable discussion as part of the Pacific Banking Forum to tackle issues related to de-risking and the decline of correspondent banking relationships in the Pacific region.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned Mirghani Idris Suleiman, the Director General of Sudan's Defense Industries System (DIS), under Executive Order 14098. Suleiman is accused of leading efforts by the Sudanese Armed Forces (SAF) to procure weapons amid their ongoing conflict with the Rapid Support Forces (RSF). OFAC previously designated DIS on June 1, 2023, for actions threatening Sudan's peace and stability.
The Price Cap Coalition, comprising G7 countries along with the European Union, Australia, and New Zealand, has issued an updated advisory for the global maritime industry. This advisory is aimed at both government and private sector actors involved in maritime activities. The update focuses on best practices to promote responsible operations, disrupt sanctioned trade, and enhance compliance with existing price caps.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on 18 companies, individuals, and vessels connected to Sa’id al-Jamal, a financial official linked to the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and supporting Houthi operations. The entities involved are accused of facilitating illicit oil shipments that fund Houthi attacks in the region.
The U.S. Department of the Treasury has published its Treasury International Capital (TIC) data for August 2024, revealing a net TIC inflow of $79.2 billion. This figure includes net foreign private inflows of $79.7 billion and net foreign official outflows of $0.6 billion.
This week, the U.S. Department of the Treasury convened a roundtable to explore how financial institutions can enhance their support for Tribal Nations in accessing capital. The event brought together various stakeholders from the Tribal finance ecosystem, including representatives from Tribal governments, financial technology firms, consumer advocacy groups, government agencies, and financial institutions.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on three entities and one individual involved in the production of Russia's Garpiya series long-range attack unmanned aerial vehicles (UAVs). These drones, which have been used in Russia's ongoing conflict with Ukraine, are designed by experts based in the People's Republic of China (PRC) and manufactured at factories in China before being transferred to Russia.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated three individuals and four companies linked to a Lebanon-based network that supports Hizballah financially. This network is accused of generating substantial revenue for Hizballah through sanctions evasion tactics, including commercial projects in Lebanon facilitated by Iran.
In a joint effort with Canada, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated the Samidoun Palestinian Prisoner Solidarity Network as an international fundraiser for the Popular Front for the Liberation of Palestine (PFLP), a terrorist organization. The PFLP was classified as a Foreign Terrorist Organization by the U.S. Department of State in 1997 and as a Specially Designated Global Terrorist in 2001. Samidoun, along with Khaled Barakat, a member of PFLP's leadership, plays significant roles in fundraising activities for the group.
Today, the U.S. Department of the Treasury released a fact sheet highlighting investments in the Latino community. This announcement comes during Hispanic Heritage Month and underscores the contributions of Latinos to the U.S. economy, along with benefits from President Biden's economic agenda for Latino families and businesses.
On October 7, 2024, the U.S. Department of the Treasury organized an event in Washington to explore how the State Small Business Credit Initiative (SSBCI) can support community development financial institutions (CDFIs). The gathering included state government representatives, nonprofit groups, and other stakeholders.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned Algoney Hamdan Daglo Musa, a key figure in Sudan's Rapid Support Forces (RSF), under Executive Order 14098. Algoney is recognized for his role in supplying weapons to sustain the ongoing conflict between the Sudanese Armed Forces and RSF, which has resulted in significant casualties and displacement.
