What are the OFAC regulations?
Table of Contents
What are the OFAC regulations?
OFAC regulates economic trade with foreign countries and administers the statutory economic trade sanctions and embargoes imposed on specific foreign countries based on foreign policy, national security concerns, or international treaty obligations.
What does Sdntk stand for?
Program Tag Definitions for OFAC Sanctions Lists
| Program Tag: | Definition: | Sanctions List: |
|---|---|---|
| [SDNT] | Narcotics Trafficking Sanctions Regulations, 31 C.F.R. part 536 | SDN |
| [SDNTK] | Foreign Narcotics Kingpin Sanctions Regulations, 31 C.F.R. part 598 | SDN |
| [SOMALIA] | Somalia Sanctions Regulations, 31 C.F.R. part 551 | SDN |
Who must comply with OFAC regulations?
U.S. persons must comply with OFAC regulations, including all U.S. citizens and permanent resident aliens regardless of where they are located, all persons and entities within the United States, all U.S. incorporated entities and their foreign branches.
What is OFAC’s SDN list?
As part of its enforcement efforts, OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific.
What is the difference between SDN list and non SDN list?
When full blocking sanctions in a statute or other authority are imposed on a person, that person is identified solely on OFAC’s List of Specially Designated Nationals and Blocked Persons (SDN List). Any other sanctions short of full blocking that are imposed on that person are also identified on the SDN List.
What is the FSE list?
This Foreign Sanctions Evaders List (“FSE List”) includes persons sanctioned pursuant to E.O. 13608 for engaging in conduct relating to the evasion of U.S. economic and financial sanctions with respect to Iran or Syria, which are identified , respectively, with the program tags [FSE-IR] and [FSE-SY].
Who does not need to comply with OFAC?
All U.S. persons must comply with OFAC regulations, including all U.S. citizens and permanent resident aliens regardless of where they are located, all persons and entities within the United States, all U.S incorporated entities and their foreign branches.
What is OFAC FSE list?
Sign up for FSE List e-mail updates. OFAC publishes a list of foreign individuals and entities determined to have violated, attempted to violate, conspired to violate, or caused a violation of U.S. sanctions on Syria or Iran pursuant to Executive Order 13608.
What is OFAC SSI list?
The Sectoral Sanctions Identifications List (the. “SSI List”) This publication of Treasury’s Office of Foreign Assets Control (“OFAC”) is a reference tool providing actual notice of actions by OFAC with respect to persons that are identified pursuant to Executive Order 13662.
What is FSE list?
How many names are on the OFAC list?
6,300 names
OFAC’s Specially Designated Nationals and Blocked Persons List (“SDN List”) has approximately 6,300 names connected with sanctions targets.
