Counter Terrorism Designation

Specially Designated Nationals List Update

The following entity has been added to OFAC’s SDN List:

CARTEL DE LOS SOLES (a.k.a. CARTEL OF THE SUNS), Venezuela; Secondary sanctions risk: section 1(b) of Executive Order 13224, as amended by Executive Order 13886; Organization Type: Transnational Terrorist Group; Target Type Criminal Organization [SDGT].

The Specially Designated Nationals and Blocked Persons List (SDN List) is a U.S. government publication maintained by the Office of Foreign Assets Control (OFAC). It identifies individuals and entities, such as terrorists, drug traffickers, and those involved in proliferation of weapons of mass destruction, who are subject to sanctions and whose assets in the United States are blocked. 

Here’s a more detailed explanation:

What it is: The SDN List is a crucial tool in enforcing U.S. economic and trade sanctions. It’s a list of individuals, entities, and vessels (including aircraft) that are blocked because they are: 

• Designated under various sanctions programs administered by OFAC. 
• Targeted due to their involvement in terrorism, drug trafficking, or other activities that threaten U.S. national security or foreign policy interests. 
• Owned or controlled by, or acting for or on behalf of, designated parties or countries. 

Why it matters: U.S. persons and entities are generally prohibited from engaging in transactions with individuals and entities on the SDN List. This means they must block any property in their possession or control in which an SDN has an interest. Violating these prohibitions can lead to significant penalties. 

How it’s used:

• Compliance:Businesses and financial institutions use the SDN List to screen customers, counterparties, and transactions to ensure they are not engaging with blocked parties. 
• Enforcement:OFAC uses the SDN List to identify and pursue enforcement actions against those who violate sanctions. 
• Public Information:The SDN List is publicly available, allowing individuals and organizations to identify and avoid doing business with sanctioned parties. 

Key Features:

• Frequently updated:The SDN List is updated regularly to reflect new designations and changes to existing listings. 
• Comprehensive:It includes individuals, entities, and vessels, and is used in conjunction with other OFAC sanctions lists. 
• Automated screening:Banks and other financial institutions use automated systems to screen against the SDN List when processing transactions