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OFAC penalty clarifies rules on sanctioned executives (August 2017)

Client Briefings

Introduction

A penalty assessment by the US Treasury Department's Office of Foreign Assets Control (OFAC) against Exxon Mobil Corporation and two of its subsidiaries (Exxon) serves as a reminder that US persons are prohibited from executing agreements with Specially Designated Nationals (SDNs), even when an SDN is acting for a non-sanctioned entity.

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