Office of Foreign Assets Control
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Cal: The office at the Department of the Treasury that administers and enforces economic and trade sanctions against targeted foreign countries, terrorism sponsoring organizations and international narcotics traffickers based on U.S. foreign policy and national security goals. OFAC blocks assets of foreign countries subject to economic sanctions, controls participation by U.S. persons, including foreign subsidiaries, in transactions with specific countries or nationals of such countries, and administers embargoes on certain countries or areas of countries.
FAU-B The Office of Foreign Assets Control (31 CFR §§500-599) is an office under the U.S. Department of the Treasury. OFAC is responsible for enforcing the foreign policy of the U.S. government including all trade sanctions, embargoes, and financial interactions with prohibited or blocked individuals or entities.
Texas: The Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury administers and enforces certain country-specific controls that take the form of economic embargoes against countries, including countries subject to comprehensive embargoes such as Cuba, Iran, Syria, and Sudan, and countries subject to limited sanctions or embargoes such as the Balkans, Cote D’Ivoire (formerly Ivory Coast), Iraq, Liberia, Myanmar (formerly Burma), , North Korea, Zimbabwe, and the Palestinian Territories (Palestinian Authority). The scope of these economic and trade embargoes varies from country to country. OFAC has adopted regulations that detail the scope of the embargo against each country. OFAC also maintains lists of Specially Designated Terrorists and Specially Designated Nationals and Blocked Persons, with whom U.S. persons are prohibited from engaging in any transactions due to U.S. foreign policy and national security concerns. Transfers of Items and Information to individuals or entities on these lists are prohibited without the prior approval of OFAC.
