172 Xibin Rd, Ranghulu District, (Daqing, Heilongjiang Branch), Daqing, 163453, China; 9 Dongzhimen North Street, Dongcheng District, (Head Office), Beijing, 100007, China; No. 7 Century Ave, (Registered Office), Xinjiang, 834000, Karamay, China; No. 68 Zhongya South Rd, Economic and Technological Development Zone, (Urumqi, Xinjiang Branch), Urumqi, 830026, China

The financial institutions sanctioned today are Bank of Kunlun in China and Elaf Islamic Bank in Iraq. Bank of Kunlun has provided significant financial services to more than six Iranian banks that were designated by the United States in connection with Iran's weapons of mass destruction (WMD) programs or its support for international terrorism. . Bank of Kunlun has provided hundreds of millions of dollars worth of financial services to these designated banks, including holding accounts, making transfers, and paying their letters of credit. In early 2012, Bank of Kunlun transferred hundreds of payments totaling roughly $100 million dollars from accounts it holds for designated Bank Tejarat. This activity happened after Bank Tejarat was designated by the United States (and the European Union) in January 2012 for providing financial services to several Iranian banks and firms already subject to sanctions for their involvement in Iran’s illicit proliferation activities. In addition to these transfers, in early 2012 Bank of Kunlun made at least one payment for an affiliate of Iran’s Islamic Revolutionary Guard Corps pursuant to a letter of credit opened by Bank Tejarat.

https://home.treasury.gov/news/press-releases/tg1661

2019-03-14

US

Correspondent Account or Payable-Through Account Sanctions related to 31 C.F.R. part 561

OFAC country specific

Iran

Blocking Property, Suspending Entry

As of March 14, 2019, the List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions (the “CAPTA List”) includes one foreign financial institution subject to correspondent or payable-through account sanctions. Prior to March 14, 2019, this entity was on OFAC’s Part 561 List. The Part 561 List that formerly appeared on this page has been eliminated in favor of the new CAPTA List. The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is replacing the List of Foreign Financial Institutions Subject to Part 561 (the "Part 561 List") with the List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions (the “CAPTA List”). The CAPTA List contains identifying information of foreign financial institutions for which the opening or maintaining of a correspondent account or a payable-through account in the United States is prohibited or is subject to one or more strict conditions. The specific strict conditions or prohibitions to which the foreign financial institutions are subject to include the Ukraine Freedom Support Act of 2014, as amended by the Countering America's Adversaries Through Sanctions Act, the North Korea Sanctions Regulations, 31 C.F.R. part 510, the Iranian Financial Sanctions Regulations, 31 C.F.R. Part 561, which were identified on OFAC's now defunct Part 561 List, and the Hizballah International Financing Prevention Act of 2015, which would be identified on the Hizballah Financial Sanctions Regulations List (the “HFSR List”). The CAPTA List is not part of the Specially Designated Nationals (SDN) List. Information that appears on the CAPTA list will be included in the data formats associated with the Consolidated Sanctions List. Finally, to implement these changes the following listing has been moved from the Part 561 List to the new CAPTA List. The only alteration to this record has been the removal of the [561List] program tag and the addition of the new [561-Related] program tag. NB: as of January 2024, there is only one company designated under this sanctions program tag.

CAPTA / NON-SDN