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Enron Mail |
FOREIGN NARCOTICS KINGPIN DESIGNATION ACT OF 1999
On June 1, 2000, the Treasury Department expanded its list of Specially Designated Nationals and Blocked Persons under the Narcotics Trafficking Sanctions Regulations by adding a large number of Colombian entities and individuals designated as "SDNTKs" (Specially Designated Narcotics Traffickers under the Kingpin Act). The Kingpin Act blocks all property and interests in property subject to U.S. jurisdiction, owned or controlled by significant foreign narcotics traffickers as identified by President Clinton. The targets of this measure are major narcotics traffickers and trafficking organizations based in Afghanistan, Bolivia, Burma, Colombia, the Dominican Republic, Laos, Mexico, Pakistan, the People's Republic of China, Peru, Russia, and Thailand. U.S. persons are prohibited from engaging in any transaction or dealing in property or interests in property of SDNTKs and from engaging in any transaction that evades or avoids the prohibition of the Kingpin Act. These prohibitions affect trade transactions as well as accounts, securities, and other assets. Reflecting the concern of many in Congress that current civil penalties related to the export control and economic sanctions violations (normally, $10,000 to $11,000) do not sufficiently deter prohibited conduct, the Act authorizes civil penalties of up to $1,000,000. You may obtain a copy of the following updates and Executive Order by clicking the link below. General information on several countries such as Lybia, Iran, Iraq, Yugoslavia, Cuba, North Korea, Angola, etc., can also be accessed at: http://www.ustreas.gov/ofac: OFAC's Updated Master List, dated June 19, 2000 (the list of blocked vessels begins on page 64) OFAC's Changes to List of SDN dated January 1, 2000 incorporates the must recent changes as of June 1, 2000 reflecting SDNs, Blocked Persons, and SDNTKs. OFAC's Executive Order 12978 - An overview of the blocking of assets and prohibitions against transactions with Narcotics Traffickers. If you have any questions regarding the above, please call me or Alan Aronowitz. Nony Flores
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