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PT Bukit Muria Jaya (“BMJ”), an Indonesian corporation, recently agreed to pay a criminal fine of more than $1.5 million and to strengthen its compliance program after violating the U.S. sanctions regime. Similarly-situated foreign companies that might do business with individuals, companies, and countries listed by the U.S. Department of the Treasury’s Office of Foreign Asset Control (“OFAC”) should ensure that they have compliance programs to avoid similar enforcement actions.
On January 14, 2021, the U.S. government entered into a deferred prosecution agreement (“DPA”) with BMJ, an Indonesian paper goods company, which sold paper products to a North Korean state-owned company. As part of the settlement, BMJ paid a fine of $1,561,570 to the U.S. government and signed a DPA.
The decision to designate the Houthis (Ansar Allah) a foreign terrorist organization, and how it s impacting the United Nations - World reliefweb.int - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reliefweb.int Daily Mail and Mail on Sunday newspapers.
The United Nations
On 10 January, the former United States Secretary of State, Michael Pompeo, announced the designation of the Houthis (Ansar Allah) as a foreign terrorist organization and a specially designated global terrorist entity. The designation entered into effect on 19 January.
The US Department of the Treasury’s Office of Foreign Asset Control issued several general licenses aimed at mitigating the anticipated repercussions for humanitarian operations in and commercial traffic to Yemen. However, humanitarian actors in Yemen have repeatedly warned that these licenses are not enough to avert the negative humanitarian impact of the designations.
Underlying uncertainty
Yemen depends on commercial imports to bring in nearly all its food and everything else. The licenses as currently formulated do not address the underlying uncertainty around commercial transactions in Yemen – including potential risks of criminal liability for many relevant stakeholders, such as banks a
US Allows Transactions With Yemen s Houthis For One Month antiwar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from antiwar.com Daily Mail and Mail on Sunday newspapers.