|
McNabb Ferrari, P.C. |
| Scope of Practice Federal Criminal Defense: Cases Be Proactive Video Blog International Extradition: Cases Be Proactive Video Blog OFAC Litigation: SDN Removal Video Blog Consultation Attorneys Fees Locations Ethics-Legal Ability Press Coverage Home |
FORMER LIBERIAN REGIME OF CHARLES TAYLORQ: What property or interests in property are blocked as a result of these regulations?A: The sanctions against the Former Liberian Regime of Charles Taylor block the property and interests in property of anyone the Secretaries of Treasury and State determine: To be or have been an immediate family member of Charles Taylor; To have been a senior official of Charles Taylor's former regime or otherwise to have been one of the regime's close allies or associates; To have materially assisted, sponsored, or provided financial, material or technological support for, or goods or services in support of, the unlawful depletion of Liberian resources, the removal or Liberian resources from that country, and the secreting of Liberian funds and property by any person whose property or interests are already blocked; or To be owned or controlled by, or acting or purporting to act on behalf of any person whose property and interests are already blocked. Q: Do these regulations apply to the country of Liberia, its government or the Central Bank of Liberia? A: No, they do not prohibit the provision of banking services to Liberia unless the bank in question is a person whose property and interests in property are blocked pursuant to the Regulations. Q: What is the goal of these sanctions? A: The goal of the asset freeze on certain senior members of Charles Taylor's former regime and certain others is to prevent the import of all rough diamonds, round logs, and timber products originating in Liberia. Q: Do the current sanctions still achieve this goal? A: Not completely. Consistent with a United Nations Security Council Resolution, OFAC issued a general license authorizing all importations of round logs and timber products originating in Liberia provided that the transaction does not involve any person whose property and interests are already blocked. OFAC's regulations on rough diamonds now require that they be controlled through the Kimberley Process Certification Scheme before they can be imported into the U.S. As of May 2007, Liberia is a participant in the Kimberley Process, but the Secretary of State must publish a notice in the Federal Register to this effect before rough diamonds can be imported from Liberia. |