US Removes some Iraqi Entities from Sanctions List

By John Lee.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has deleted the following Iraq-related entities from its Specially Designated Nationals (SDN) list:

  • MIDCO FINANCE S.A. (a.k.a. MIDCO FINANCIAL S.A.; a.k.a. MONTANA MANAGEMENT INC.), 57 Rue du Rhone, Geneva CH-1204, Switzerland; Panama; US FEIN CH-660-0-469-982-0 (United States); Switzerland [IRAQ2].
  • MIDCO FINANCIAL S.A. (a.k.a. MIDCO FINANCE S.A.; a.k.a. MONTANA MANAGEMENT INC.), 57 Rue du Rhone, Geneva CH-1204, Switzerland; Panama; US FEIN CH-660-0-469-982-0 (United States); Switzerland [IRAQ2].
  • MONTANA MANAGEMENT INC. (a.k.a. MIDCO FINANCE S.A.; a.k.a. MIDCO FINANCIAL S.A.), 57 Rue du Rhone, Geneva CH-1204, Switzerland; Panama; US FEIN CH-660-0-469-982-0 (United States); Switzerland [IRAQ2].
  • AL-DULAIMI, Khalaf (a.k.a. AL-DULAYMI, Khalaf M.M.); DOB 25 Jan 1932; Passport #H0044232 (Iraq) (individual) [IRAQ2].
  • AL-DULAYMI, Khalaf M.M. (a.k.a. AL-DULAIMI, Khalaf); DOB 25 Jan 1932; Passport #H0044232 (Iraq) (individual) [IRAQ2].

The United Nations Security Council had also removed them from its Sanctions List of individuals and entities in May 2022.

Khalaf Al-Dulaymi, also associated with Midco Financial, was a principal of Montana Management, which reportedly owned substantial shares of stock in one or more French firms on behalf of senior officials of the former regime of Saddam Hussein.

(Sources: OFAC, UN)

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