US Treasury removes 84 entries from sanctions list amid review
The U.S. Treasury on July 27, 2024, removed 84 companies and individuals from its Specially Designated Nationals and Blocked Persons List. The action is part of a major review launched by Treasury Secretary Scott Bessent in May to streamline sanctions, eliminate outdated entries, and reduce compliance burdens for banks. The tranche includes 36 deceased persons, 33 Iraq‑related entities first designated in the early 1990s, seven defunct narcotics listings tied to Colombia, and eight disrupted narcotics kingpins. The Office of Foreign Assets Control also updated listings for 22 individuals and entities to add missing identifiers. Over 3,000 names have been designated this year, a rise from 880 in 2017. Treasury officials say the goal is to keep sanctions “efficient, sharp and focused,” and note that removed names can be reinstated if later reviews find they affect U.S. foreign policy or national security. Scott Bessent emphasized that sanctions are not intended to be permanent tools.
Entities: Office of Foreign Assets Control (OFAC) · Scott Bessent · Specially Designated Nationals and Blocked Persons List (SDN List) · U.S. Treasury · United States
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 7 SOURCES] The tranche includes 36 deceased individuals, 33 Iraq‑related entities first designated in 1991 or 1992, seven defunct narcotics listings related to Colombia, and eight disrupted narcotics kingpins. (Treasury announcement)
- [● 7 SOURCES] More than 3,000 names were designated in 2024, compared with 880 in 2017. (Treasury official)
- [● 7 SOURCES] Treasury aims to keep sanctions efficient, sharp and focused, removing bloat from previous administrations. (Treasury official)
- [● 7 SOURCES] Names removed from the sanctions list can be reinstated if later reviews determine they would affect U.S. foreign policy or national security. (Treasury statement)
- [● 7 SOURCES] The removals are part of a review launched by Treasury Secretary Scott Bessent in May to streamline sanctions and ease compliance burdens. (Treasury officials)
- [● 7 SOURCES] The Office of Foreign Assets Control updated listings for 22 individuals and entities to add or clarify missing key identifiers. (Treasury announcement)
- [● 7 SOURCES] The U.S. Treasury removed 84 companies and individuals from its sanctions list on July 27, 2024. (U.S. Treasury announcement)
- [● 7 SOURCES] Treasury Secretary Scott Bessent said sanctions are not intended to be a forever tool. (Scott Bessent)