OFAC

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The Department of Treasury’s Office of Foreign Asset Controls (“OFAC”) administers financial and economic sanctions against specific countries in response to some form of wrongdoing. OFAC sanctions are targeted broadly against 1) foreign governments and political entities, 2) individuals and groups ranging from terrorists and drug cartels to banks and other financial institutes that support those types of activities, 3) entities such as charities linked to terrorism, and 4) certain activities such as those that would lead to nuclear proliferation or otherwise violation U.S. policy interests.

Well-known sanctions programs include complete embargoes or more limited restrictions on trade with Cuba, Iran, Syria, and North Korea. Other programs include more targeted sanctions on the property of specified people from countries including Russia, Venezuela, Belarus, the Congo, and elsewhere. Collectively, such individuals and companies are called "Specially Designated Nationals" or "SDNs." Their assets are blocked, and U.S. persons are prohibited from dealing with them. Both the sanctions programs and the SDN List are constantly changing and companies that do business internationally, particularly in political ‘hot spots’ are well advised to constantly monitor OFAC developments.

OFAC’s sanctions apply to all U.S. citizens and permanent residents wherever they are located. It also applies to any person who is physically in the United States regardless of his citizenship. U.S. companies and all branches of U.S. organizations throughout the world remain subject to OFAC. Likewise, U.S. branches or offices (physically located in the U.S.) of foreign corporations are subject to OFAC.

Attorneys at Barnes, Richardson are well versed in sanction law and can provide guidance on how to tailor transactions, including financial transactions, so they remain complaint with the OFAC law. Barnes, Richardson attorneys assist companies in all areas of OFAC compliance, including building and auditing robust OFAC compliance programs, preparing and submitting voluntary disclosures to OFAC, and engaging in other representations before that agency.

Jul. 20, 2026: CBP's Section 232 Copper Smelt and Cast Reporting Requirements Guidance
Jul. 20, 2026: White House Introduces Section 338 Tariffs on Canadian Articles
Jul. 16, 2026: Commerce Department Publishes Rulemaking Docket: What's on the Chopping Block and What's Getting the Ol' College Try…. At Least for Now
Jul. 16, 2026: Long-Awaited Brazil 301 Duties Issued
Jul. 16, 2026: Trade Fraud Task Force Lays Out Tools it Intends to Use Against Fraud
Jul. 10, 2026: White House Declines Section 232 Tariff on Aerospace Articles
Jul. 2, 2026: CAPE Processing Restrictions for Warehouse Entries
Jun. 30, 2026: European Union Implements U.S. Trade Deal
Jun. 30, 2026: CBP Updates Vehicle Duty Offset Guidance
Jun. 30, 2026: PHASE 2: CBP Now Accepting Reconciliation Entries in CAPE
Jun. 18, 2026: United States Finds Forced Labor for Serbian Copper Producer
Jun. 16, 2026: Supreme Court Declines to Review HMTX Challenge to Section 301 Tariffs
Jun. 15,2026: CBP Releases Updated Guidance on Forced Labor Prohibition Enforcement
Jun. 10, 2026: E.U. May be Joining Others in Harder Line Toward China Trade
Jun. 9, 2026: Forced Labor Watchdog Barred from Suing U.S. Customs
May 27, 2026: Commerce and USTR Implement Section 232 Relief for Taiwan
May 26, 2026: CBP Ruling Clarifies Price Paid or Payable
May 26, 2026: CBP Updates CAPE Guidance for Entries Flagged for Reconciliation
May 13, 2026: And Suddenly, Shippers Have Choices
May 12, 2026: BIS Set to Publish Notice on Applications for Pharmaceutical Company-Specific Agreements
May 11, 2026: CBP Releases Updated Guidance on 232s for USMCA Medium and Heavy Vehicles
May 8, 2026: Court of International Trade Panel Strikes Down Section 122 Tariffs, Throws Out Most State Suits
May 4, 2026: U.S.& EU Align on Critical Minerals Supply Chain Resilience
Apr. 27, 2026: EU Commissioner Šefcovic on EU-U.S. Steel Talks
Apr. 24, 2026: CIT Decision Highlights CAPE Phase II IEEPA Refund Concerns
Apr. 24, 2026: Potential AD/CVD for Mexican, Vietnamese, & Thai Chassis
Apr. 21, 2026: CAPE Phase 1, Day One, Better Than Feared
Apr. 20, 2026: CBP Updates Guidance on Jones Act Waiver
Apr. 20, 2026: BIS Enforcement Action Against Coastal PVA Technology Signals Continued Scrutiny of EAR99 Exports
Apr. 14, 2026: CBP Publishes CAPE Phase 1 Update
Apr. 10, 2026: CBP Releases First CAPE IEEPA Refund Instructions
Apr. 2, 2026: Big Changes to Tariffs on Steel, Aluminum, Copper and their Derivative Articles
Apr. 1, 2026: CBP Publishes New Applications for ACE Portal Accounts
Mar. 31, 2026: CIT Potentially Broadens the Path for IEEPA Refunds—But the End Is Not Here Yet
Mar. 30, 2026: Section 232 Steel/Aluminum Content Reporting "Guidance"
Mar. 20, 2026: CBP Ruling Clarifies Customs Business, Addresses AI
Mar. 16, 2026: USTR Initiates Forced Labor Section 301 Investigation
Mar. 12, 2026: Here Come the Section 301 Investigations
Mar. 12, 2026: CBP Updates Court on IEEPA Refund Process and Technology
Mar. 11, 2026: AD/CVD Petitions Announced on Lithium Battery Chemicals from China
Mar. 10, 2026: Bills Introduced in House and Senate to Restrict Non-Resident Importers
Mar. 9, 2026: States Challenge Section 122 Tariffs
Mar. 6, 2026: Customs Proposes IEEPA Refund Process to Court
Mar. 4, 2026: CIT Orders Refunds; Appeal Likely
Mar. 2, 2026: IEEPA Case Expedited to CIT for Relief
Feb. 27, 2026: New AD/CVD Petitions on Truck Bed Covers from China
Feb. 27, 2026: "Trade Deals" Under Reciprocal Tariff Framework Have Uncertain (and Maybe Varying) Futures

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Jan. 22, 2025: Webinar: What We Know After the Inauguration
Sep. 9, 2024: McPherson to Co-Moderate Export Enforcement Discussion
Jun. 2, 2023: BRC and Attorneys Ranked in 2023 Chambers Guide
May 12, 2015: Partner Helena Sullivan Speaks at New York City Bar Association on OFAC Compliance
April 8, 2013: Barnes/Richardson Partner Quoted in Ria Novosti Article