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The U.S. Intelligence Community

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $466,200 settlement with Privilege Underwriters Reciprocal Exchange (PURE). PURE agreed to settle its potential civil liability for 39 apparent violations of OFAC’s Ukraine-/Russia-Related sanctions. Between May 2018 and July 2020, PURE engaged in transactions related to four insurance policies involving a blocked Panama-based company owned by Specially Designated National Viktor Vekselberg (Vekselberg). The settlement amount reflects OFAC’s determination that PURE’s apparent violations were not voluntarily self-disclosed and were non-egregious. For more information, please visit the following web notice.

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