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.

Oct. 13, 2026: Low-Value Shipments Framework Outlined in CBP Proposed Rule
Oct. 7, 2026: USTR Announces that Section 301 Lists 2 and 3 Should Continue (As Predicted)
Oct. 7, 2026: USTR Seeks Comment on EU Carbon Border Tax, Raising Possibility of Enforcement
Oct. 6, 2026: DOJ Gives Guidance for Trade Fraud Enforcement
Sep. 28, 2026: U.S. and China Extend Trade Truce and Advance Targeted Tariff Reductions
Sep. 22, 2026: Canada Takes it Back to the Start: CBSA Releases Guide to Importing
Sep. 22, 2026: President Trump Signs the Russian and Iran Sanctions Act
Sep. 14, 2026: CBP Seeks Comments for Increased Supply Chain Visibility
Sep. 10, 2026: U.S. Strikes Back with Section 338 Import Bans
Sep. 8, 2026: Canadian Retaliation Duties Take Effect
Sep. 1, 2026: CBP Seeks Input on New Supply Chain Traceability Requirements
Aug. 28, 2026: Executive Order to Prohibit Imports of Electrical Grid Equipment
Aug. 25, 2026: Canada Issues Retaliatory Tariffs List
Aug. 24, 2026: United States Imposes Section 338 Duties on Canada
Aug. 20, 2026: Path Forward for Section 301 Forced Labor Duties Litigation Set
Aug. 19, 2026: White House Delays Section 338 Tariffs on Canada
Aug. 18, 2026: CBP Targets Importer of Record Data for Enforcement Actions
Aug. 14, 2026: Trump Implements Section 232 Duties Against Drones and Drone Parts
Aug. 13, 2026: U.S. Agreement Expands Archaeological and Ethnological Import Restrictions
Aug. 10, 2026: Polysilicon Tariff Minimums Imposed under Section 232
Aug. 7, 2026: Taiwan Manufacturer Agrees to $51.5 Million False Claims Act Settlement
Aug. 6, 2026: Challenges Raised to 301 Forced Labor Tariffs
Aug. 5, 2026: BIS Poised to Impose Section 232 Duties on More Metal Products
Aug. 3, 2026: White House Orders 4-Year TRQ on Quartz
Aug. 3, 2026: DHS Identifies 43 Companies Associated With Forced Labor
Jul. 30, 2026: The FCC Has Added Foreign-Produced Robots and Power Inverters to the "Covered List," Effectively Barring Imports
Jul. 23, 2026: Forced Labor Section 301 Duties Start Friday at 12:01 a.m.
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

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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