OFAC settlement requires Pegasus Worldwide Logistics to pay $175,015 over sanctions violations
U.S. sanctions enforcement is widening to include logistics activity tied to blocked property and compliance failures in cross-border trade. Pegasus Worldwide Logistics agrees to pay $175,015 after OFAC identifies apparent violations linked to a designated supplier and a delayed response to an agency subpoena.
Highlights
- Pegasus Worldwide Logistics agreed to pay $175,015 to OFAC for four violations of Illicit Drug Trafficking Sanctions Regulations and six procedural violations.
- OFAC cited Pegasus for facilitating importation involving a designated company between September 2023 and February 2024 and delaying subpoena response for six months.
- OFAC issued new General Licenses relating to the International Criminal Court and expanded its SDN list, altering compliance requirements for cross-border transactions.
Sanctions settlement and compliance findings
As reported by Office of Foreign Assets Control, the settlement covers Pegasus Worldwide Logistics' potential civil liability for four apparent violations of the Illicit Drug Trafficking Sanctions Regulations and six apparent violations of the Reporting, Procedures and Penalties Regulations.OFAC says the freight forwarder dealt in blocked property between September 2023 and February 2024 by facilitating the importation of a machine supplied by a designated company. The agency also says Pegasus failed to respond fully for six months to an OFAC subpoena, and that the final settlement amount reflects a determination that the conduct is non-egregious and was not voluntarily disclosed.
ICC licensing changes and SDN list update
Separately, OFAC issues multiple International Criminal Court-related General Licenses authorizing certain transactions connected to the ICC. The agency also updates its Specially Designated Nationals and Blocked Persons list, including the addition of the International Criminal Court.The actions combine an enforcement settlement with broader sanctions-administration changes, affecting compliance obligations for companies that handle cross-border trade, payments and other transactions that may involve blocked parties or newly listed entities.
Our earlier article on UniCredit’s proposed takeover of Commerzbank explained that EU antitrust regulators opened a formal competition review and set a November 16 decision deadline. It also outlined possible outcomes of the preliminary review, from approval (with or without concessions) to a full-scale investigation if significant competition concerns emerge.
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