The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States. OFAC Sanctioned Countries The Office of Foreign Assets Control (OFAC) is part of the United States Treasury Department. Somalia 11. Cuba, Iran).Others are “targeted” (i.e. U.S. sanctions programs vary in scope.Some are broad-based and oriented geographically (i.e. Foreign Election Interference. Because OFAC's programs are dynamic, it is very important to check OFAC's website regularly.Ensuring that your sanctions lists are current and you have complete information regarding the latest relevant program restrictions is both a best practice and a critical part of your due diligence responsibility. counter-terrorism, counter-narcotics) and focus on specific individuals and entities.These programs may encompass broad prohibitions at the country level as well as targeted sanctions.Due to the diversity among sanctions, we advise visiting the “ Sanctions Programs and … Afterward, a new kind of sanction known as list-based sanctions has been created that target specific people, institutions, and organizations. Budget, Financial Reporting, Planning and Performance, Statement from Secretary Steven T. Mnuchin on Sudan, Statement of Secretary Steven T. Mnuchin Department of the Treasury Before the Congressional Oversight Commission U.S. Congress December 10, 2020, Statement of Secretary Steven T. Mnuchin Department of the Treasury Before the Financial Services Committee U.S. House of Representatives December 2, 2020, Counter ISIS Finance Group Leaders Issue Joint Statement, Treasury Sanctions Chinese National for Shipping Fentanyl to the United States, Treasury Releases United States Postal Service Fact Sheet, Financial Markets, Financial Institutions, and Fiscal Service, Treasury Coupon-Issue and Corporate Bond Yield Curve, Treasury International Capital (TIC) System, Kline-Miller Multiemployer Pension Reform Act of 2014, Your Money and Coronavirus: Resources for Financial Relief, What the Federal Government is Doing in Response to COVID-19, Treasury Sanctions Iraqi Militia Leader Connected to Serious Human Rights Abuse, SBA and Treasury Announce PPP Re-Opening; Issue New Guidance, Treasury is Delivering Millions of Economic Impact Payments by Prepaid Debit Card, Statement by Secretary Steven T. Mnuchin on Passage of the Coronavirus Response and Relief Supplemental Appropriations Act, Treasury sanctions Iraqi militia leader connected to serious human rights abuse https://t.co/chl76ioQEl, SBA and Treasury announce PPP re-opening; issue new guidance https://t.co/N7Dgstv9vv, Form 941, employer's quarterly federal tax return, Civil Penalties and Enforcement Information, Blocking Property of Certain Persons Associated with the International Criminal Court Sanctions, Countering America's Adversaries Through Sanctions Act of 2017 (CAATSA), Democratic Republic of the Congo-Related Sanctions, Foreign Interference in a United States Election Sanctions, Click here for information on OFAC sanctions lists program tags and their definitions​, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Special Inspector General for Pandemic Recovery (SIGPR), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. Applying for a Specific OFAC License It may be in your and the U.S. government’s interest to authorize particular economic activity related to the Chinese Military Companies Sanctions. What Are Country-Based Sanctions and How Does A Country End Up Being Targeted? Note that while the names may lead one to suspect that these are country-specific sanctions only, most also include individual and entity sanctions. Sanctioned Countries: Syria. Where is OFAC’s Country List? Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports. Multiple presidential executive orders impose economic and trade sanctions against Syria. The Syria sanctions program applied by OFAC, HM Treasury, the EU, the UN, and several other regulatory entities were imposed in response to the Syrian government’s support of international terrorism and violations against democratic and human rights in the country. Visual OFAC can help alleviate the worry that you’re doing business with a party in a sanctioned or embargoed country. What Are The Types of OFAC Sanction Programs? The Office of Foreign Assets Control (OFAC) does not maintain a specific list of countries that U.S. persons cannot do business with. The sanctions can be either comprehensive or selective, using the blocking of assets and trade restrictions to accomplish foreign policy and national security goals. 1 October 2020. Sanctions List Search will detect certain misspellings or other incorrectly entered text, and will return near, or proximate, matches, based on the confidence rating set by the user via the slider-bar. 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