14th Floor, Office 1401, Al Owais Business Tower, 53, 24th Street, Al Sabkha-115, Deira, Dubai, United Arab Emirates
Reg. ID
611462, License
Official reason
The оrganization "SAKAN GENERAL TRADING" is included in the list of terrorists and groups identified under E.O. 13224 and the list of Specially Designated Nationals (SDN) of the US Treasury Department". Executive Order 13224 of September 23, 2001 provides the US government with a powerful tool to disrupt the financing of terrorism and is part of our national commitment to lead international efforts to end the evil of terrorist activity. In general, the Order provides a means to disrupt the network of financial support for terrorists and terrorist organizations by allowing the US government to identify and freeze the assets of foreign individuals and entities that commit or pose a significant risk of committing acts. terrorism In addition, because of the prevalence and scale of foreign terrorist financing, the Order authorizes the U.S. government to freeze the assets of individuals and entities that provide support, services, or assistance to, or are otherwise associated with, terrorists and terrorist organizations identified under the Order, as well as their affiliates. companies, front organizations, agents and partners. Except for limited exceptions set forth in the Order, or as authorized by OFAC, all property and interests in the property of an entity оrganization located in or in the United States, or owned or controlled by US persons, are frozen. Except for the limited exceptions set forth in the Order, or as authorized by OFAC, any transactions or operations by persons from or within the United States with respect to property or interests in the property of a blocked entity оrganization are prohibited, including, but not limited to, making or receiving any contribution of funds, goods or services for the benefit of a legal entity. Any act by any person in the United States or in a territory of the United States that evades any prohibition in the Order, or is intended to avoid, evade, or attempt to violate any prohibition in the Order. Any conspiracy to violate any of the prohibitions is also prohibited. Civil and criminal penalties may apply for violations.
Other Information
SDN
Date of listing
2019-03-26
Program information
Authority
US
Program
Global Terrorism Sanctions Regulations, 31 C.F.R. part 594
On June 6, 2003, OFAC issued the Global Terrorism Sanctions Regulations, 31 CFR part 594 (68 FR 34196, June 6, 2003 (“the Regulations”), to implement Executive Order (E.O.) 13224 of September 23, 2001, “Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten To Commit, or Support Terrorism” (66 FR 49079, September 25, 2001). OFAC has amended the Regulations on several occasions.
On September 9, 2019, the President, invoking the authority of, inter alia, the International Emergency Economic Powers Act (50 U.S.C. 1701–1706) (IEEPA) and the United Nations Participation Act (22 U.S.C. 287c) (UNPA), issued E.O. 13886, “Modernizing Sanctions To Combat Terrorism” (84 FR 48041, September 12, 2019), effective September 10, 2019. In E.O. 13886, the President, finding it necessary to consolidate and enhance sanctions to combat acts of terrorism and threats of terrorism by foreign terrorists, terminated the national emergency declared in E.O. 12947 of January 23, 1995, “Prohibiting Transactions With Terrorists Who Threaten To Disrupt the Middle East Peace Process” (60 FR 5079, January 25, 1995), and revoked E.O. 12947, as amended by E.O. 13099 of August 20, 1998, “Prohibiting Transactions With Terrorists Who Threaten To Disrupt the Middle East Peace Process” (63 FR 45167, August 25, 1998). In addition, the President amended E.O. 13224, in order to build upon initial steps taken in E.O. 12947, to further strengthen and consolidate sanctions to combat the continuing threat posed by international terrorism, and in order to take additional steps to deal with the national emergency declared in E.O. 13224, with respect to the continuing and immediate threat of grave acts of terrorism and threats of terrorism committed by foreign terrorists, which include acts of terrorism that threaten the Middle East peace process.
Section 1 of E.O. 13886 replaces in its entirety section 1 of E.O. 13224, which had been amended by a number of prior Executive orders (E.O. 13224, as amended by all such authorities, is referred to herein as “amended E.O. 13224”), but does not amend the Annex to E.O. 13224, which was previously amended by E.O. 13268 of July 2, 2002, “Termination of Emergency With Respect to the Taliban and Amendment of Executive Order 13224 of September 23, 2001” (67 FR 44751, July 3, 2002) (“amended Annex to E.O. 13224”).
