EU – Baltic States, Latvia, Legislation

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 11:17

US sanctions Turkish owner of Latvia-registered company for illicit trade with North Korea

BC, Riga, 08.10.2018.Print version
he Office of Foreign Assets Control (OFAC) of the US Department of the Treasury has imposed sanctions against the Turkey-based company Falcon International Group and its member of the board of directors Huseyin Sahin who also owns a company in Latvia for illicit trade with North Korea, Latvia’s Lursoft business database provider informed LETA.

According to information provided by the OFAC, the Turkey-registered Falcon International Group has been attempting to directly or indirectly import, export, or reexport arms or related materiel and luxury goods to, into, or from North Korea.


For these violations, the OFAC has sanctioned Falcon International Group, member of its board of directors and sole owner Sahin and Erhan Culha, general manager of SIA Falcon. Under the sanctions, US persons are prohibited from dealing with any of the designated persons.


According to Lursoft information, Sahin is the owner and member of the board of directors of the Latvia-registered SIA Falcon International. The company has been registered in 2014 and its share capital is EUR 35,000. The main business of Falcon International is purported to be livestock wholesale. The company’s legal address has been registered at a farmstead in Baldone County. The company’s subsidiary SIA Sahin has also been registered in the same address.


Lursoft representatives noted that Sahin is the founder of Falcon International and has been working on its board of directors since the company’s registration on September 15, 2014. Other members of the board include two more Turkish nationals - Cigdem Sahin and Alp Ercakir - as well as UK national Haldun Coskun Erarslan.






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