International Law Advisory - Narcotics Trafficking

Specially Designated Narcotics Trafficker
On March 21, 2003, the Office of Foreign Assets Control ("OFAC") designated OBURSATILES S.A. (a.k.a. OPERACIONES BURSATILES S.A. COMISIONISTA DE BOLSA), as a Specially Designated Narcotics Trafficker ("[SDNT]").  Prior to this designation, OBURSATILES S.A. had been "blocked pending investigation" pursuant to the Narcotics Trafficking Sanctions Regulations, 31 C.F.R. Part 536, and Section 203 of the International Emergency Economic Powers Act, as amended, 50 U.S.C. 1702.

In addition, please note that OFAC has named eight new SDNT entities, eight new SDNT individuals, and one entry created as a result of further information with respect to an additional "a.k.a."  For entity specific or individual specific information please see a copy of the notice released by OFAC on March 21, 2003, attached below.

Companies should update their OFAC compliance screening mechanisms to ensure that any existing business relationships or transactions, and any relationships or transactions in the future, are in compliance with the Narcotics Trafficking Sanctions Regulations and the International Emergency Economic Powers Act, as amended.

If you have any questions, please feel free to contact Ed Krauland at 202.429.8083.