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New Sanctions Imposed on Bulgarian Oligarch Delyan Slavchev Peevski
US Department of the Treasury’s Office of Foreign Assets Control Announces New Sanctions
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced new sanctions against Delyan Slavchev Peevski, a Bulgarian oligarch and former MP, and his network. The sanctions are being imposed under Executive Order 13818, which targets foreign persons responsible for or complicit in corruption.
Key Points
- Delyan Slavchev Peevski: A Bulgarian oligarch who has engaged in corruption and used influence peddling to protect himself from public scrutiny.
- Ilko Dimitrov Zhelyazkov: A former Deputy Chief of the Bulgarian State Agency for Technical Operations, appointed by Peevski and worked with him to conduct bribery schemes involving Bulgarian residency documents and government officials.
- Six Entities Designated as Owned or Controlled by Peevski: The sanctions designate six entities registered in Bulgaria as owned or controlled by Peevski or one of his companies.
Sanctions Details
The sanctions prohibit all property and interests in property of the designated persons that are in the United States or in the possession or control of US persons from being:
- Transferred
- Paid
- Exported
- Withdrawn
- Otherwise dealt with
Additionally, any entities owned 50% or more by a blocked person are also blocked.
Purpose of Sanctions
The sanctions are intended to impose tangible and significant consequences on those who commit serious human rights abuse or engage in corruption. The Global Magnitsky Human Rights Accountability Act was passed to address human rights abuses and corruption worldwide, and Executive Order 13818 was issued to recognize the scope and gravity of these issues.
Conclusion
These new sanctions demonstrate the US government’s commitment to holding accountable individuals who engage in corrupt activities and undermine human rights.