Tag Archive: Office of Foreign Assets Control


President Obama Bans Importation of Kalashnikov & Izhmash Firearms

 

 

Chinese Type 56

 

 

” The U.S. Treasury Department has added the Kalashnikov Concern to its Office of Foreign Assets Control (OFAC) list of specially designated nationals (SDN), effectively ceasing importation of Kalashnikov Concern Products to the U.S. The SDN is a list of foreign individuals, groups and entities with whom U.S. persons are generally prohibited from conducting business.

 The addition of Kalashnikov Concern to the SDN list is part of a larger effort established by Executive Order (E.O.) 13662 to place Ukraine-related sanctions on specified sectors of the Russian economy. The Treasury Department announced the changes to the list, which includes a number of other Russian businesses and organizations, on their website.”

 

Guns & Ammo

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Iran Gets An Unlikely Visitor, An American Plane, But No One Seems To Know Why

 

 

 

 

 

 

” President Obama has warned that Iran is not open for business, even as the United States has loosened some of its punishing economic sanctions as part of an interim nuclear pact.

   Yet on Tuesday morning, Iran had an unlikely visitor: a plane, owned by the Bank of Utah, a community bank in Ogden that has 13 branches throughout the state. Bearing a small American flag on its tail, the aircraft was parked in a highly visible section of Mehrabad Airport in Tehran.

  But from there, the story surrounding the plane, and why it was in Iran — where all but a few United States and European business activities are prohibited — grows more mysterious.

  While federal aviation records show the plane is held in a trust by the Bank of Utah, Brett King, one of its executives in Salt Lake City, said, “We have no idea why that plane was at that airport.”

  He said that the Bank of Utah acted as a trustee for investors who have a financial stake in the plane and that the bank was investigating further.

  The Federal Aviation Administration said it had no information about the investors in the aircraft or who was operating it. Officials waiting at the gangway at Mehrabad Airport said only that the aircraft was “V.I.P.” 

   The Bank of Utah is listed as a trustee for 1,169 aircraft, ranging from Boeing 747s to single-engine Cessnas, according to a review by The New York Times of the database. The Bank of Utah acts as a trustee for more planes than just about any other bank, the review shows.”

NY Times