The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has assessed a $215,988,868 civil monetary penalty against GVA Capital Ltd. of San Francisco, California for violations of OFAC's sanctions against Russia and for related reporting obligations. GVA Capital knowingly managed an investment for sanctioned Russian oligarch Suleiman Kerimov while aware of his blocked status. GVA Capital also failed to comply with an OFAC subpoena during OFAC's investigation into this matter.
The penalty amount reflects OFAC's determination that GVA Capital's conduct was egregious and not voluntarily self-disclosed.
For more information, please visit the following Enforcement Release.
Additionally, OFAC has updated its Specially Designated Nationals and Blocked Persons List.
Specially Designated Nationals List Update
The following individual has been added to OFAC's SDN List:
HUTHELE, Nasr Mohsen Ali (a.k.a. AL-SHAMMARI, Nasr), Baghdad, Iraq; DOB 27 Jan 1970; nationality Iraq; Gender Male; Secondary sanctions risk: section 1(b) of Executive Order 13224, as amended by Executive Order 13886; Passport A10575538 (Iraq) issued 09 Oct 2016 expires 07 Oct 2024; alt. Passport G2667703 (Iraq) issued 21 Feb 2009 expires 20 Feb 2017 (individual) [SDGT] (Linked To: HARAKAT AL-NUJABA).
The following entity has been added to OFAC's SDN List:
KATA'IB AL-IMAM ALI (a.k.a. AL-IMAM ALI BATTALIONS; a.k.a. IMAM ALI BRIGADES; a.k.a. KATAIB ROUH ALLAH ISSA IBN MIRIAM), Iraq; Syria; Secondary sanctions risk: section 1(b) of Executive Order 13224, as amended by Executive Order 13886; Organization Established Date 2014 [SDGT].
Unrelated Administrative List Changes:
None