U.S. Treasury blocks UAE companies pending investigation for potential Sudan sanctions violations

June 6, 2024 (WASHINGTON) – The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a “blocked pending investigation action” (BPI) against seven United Arab Emirates-based companies due to their potential involvement in activities violating U.S. sanctions on Sudan.

The companies identified for this action are Capital Tap Holding L.L.C., Capital Tap General Trading L.L.C., Capital Tap Management Consultancies L.L.C., Creative Python L.L.C., Al Jil Alqadem General Trading L.L.C., Al Zumoroud and Al Yaqoot Gold and Jewellers Trading L.L.C., and Horizon Advanced Solutions General Trading – Sole Proprietorship L.L.C.

This action means that all property and interests in property of these companies within the United States or in the possession or control of U.S. persons are now blocked pending further investigation. This is a standard procedure used by OFAC to restrict access to the U.S. financial system and protect against the risk of assets being moved to avoid sanctions.

“The Treasury Department is committed to enforcing sanctions against those who seek to undermine U.S. foreign policy objectives,” said a Treasury spokesperson. “We will continue to investigate and take action against any individuals or entities that violate our sanctions on Sudan.”

The BPI designation carries the same restrictions as other designations under the Sudan sanctions program. U.S. persons are generally prohibited from engaging in transactions with these companies. Further investigation will determine if these companies will be formally added to the Specially Designated Nationals and Blocked Persons List (SDN List).