Resource Center

 Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Eagle Shipping International (USA) LLC

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced that Eagle Shipping International (USA) LLC (“Eagle Shipping”), a Marshall Islands company with its headquarters in Stamford, Connecticut, has agreed to pay $1,125,000 to settle its potential civil liability for 36 apparent violations of the Burmese Sanctions Regulations, 31 C.F.R. part 537 (BSR) (the “Apparent Violations”).  The Apparent Violations involve Eagle Shipping’s dealings in the property interests of Myawaddy Trading Limited (“Myawaddy”), which at all relevant times was identified on OFAC’s List of Specially Designated Nationals and Blocked Persons​, and the provision of transportation services from Burma to Singapore for a land reclamation project for the benefit of Myawaddy, in apparent violation of § 537.201 of the BSR.  The total transaction value of the Apparent Violations was $1,796,400.  OFAC determined that Eagle Shipping voluntarily self-disclosed the Apparent Violations, and that the Apparent Violations constitute an egregious case.
 
For more information on this action, please visit the following web notice.
Last Updated: 1/27/2020 1:33 PM