WASHINGTON, May 28 - The U.S. Treasury Department announced Thursday it is removing 76 individuals, vessels, and entities from its sanctions blacklist, saying they are outdated.
The move aims to strengthen the sanctions program by focusing on high-risk targets and evasion.
Businesses had complained about spending significant resources screening low-risk targets. Some targets, like financial networks, no longer exist, or sanctioned individuals have died.
"Treasury is exploring ways to relieve that burden while prioritizing more impactful activities," the department said.
Sanctions on countries like Venezuela, Iran, Syria, and Russia have surged, with annual new listings rising from 880 in 2017 to over 3,000 in 2024.
