OFAC

Overview
News
Articles

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.

Aug. 14, 2025: U.S. Eyes Content Percentage for "Transshipment" Enforcement
Aug. 11, 2025: Trump Extends China Tariffs by 90 Days
Aug. 11, 2025: Creatively Ambiguous Japan Deal has Unstacked 15% Baseline
Aug. 8, 2025: Indications of Steel and Aluminum Quotas for EU in Trade Deal
Aug. 6, 2025: Additional 25% Tariffs on Indian Imports Announced
Aug. 1, 2025: New Round of Global Tariffs: A Round Up
Jul. 31, 2025: Copper 232 Coverage Issued Through Customs
Jul. 30, 2025: Gird Your Wires: Copper Tariffs Coming August 1st
Jul. 30, 2025: Brazil Gets Its Own IEEPA Tariffs
Jul. 30, 2025: De Minimis Window to Close August 29
Jul. 29, 2025: Boston Train Cars Detained by Customs for Forced Labor Allegations
Jul. 28, 2025: Trump Announces Trade Agreement Framework with the EU
Jul. 23, 2025: Trump Announces Trade Deals with Philippines, Indonesia, and Japan
Jul. 16, 2025: USTR Initiates Section 301 Investigation on Brazil
Jul. 15, 2025: Commerce Initiates Section 232 Investigations into Drones and Polysilicon Imports
Jul. 8, 2025: President Trump Spills the Tea on Copper Tariffs
Jul. 2, 2025: Trump Announces Trade Deal With Vietnam
Jul. 1, 2025: Canada Changes Course on Digital Services Tax
Jun. 17, 2025: Trump Administration and UK Sign Trade Deal
Jun. 16, 2025: Customs' Guidance on Aluminum Imports: Know the Country of Smelt and Cast or Pay 200%
Jun. 12, 2025: U.S. and China in a Trade Deal with Details to Follow
Jun. 9, 2025: Section 232 Steel and Aluminum Tariffs Rise, Change, and Maybe Expand
Jun.3, 2025: Section 232 Steel and Aluminum Tariffs on the Rise
Jun. 2, 2025: CIT Clarifies Scope Referral Requirement in EAPA Cases
May 30, 2025: Tariffs Back on For a While Probably, Maybe
May 22, 2025: Skirting the Law: UFLPA Compliance and Subsidiaries
May 15, 2025: Another Customs "Clarification" Excludes Feeder Ships from In-Transit Vessel Exemption
May 13, 2025: White House Announces Trade Deal With China (UPDATE)
May 12, 2025: Commerce Initiates Section 232 Investigation on Aircraft, Engines, and Parts
May 12, 2025: White House Announces Trade Deal With China
May 12, 2025: Customs Clarifies "U.S. Content" for Reciprocal Duties
Ma 8, 2025: U.S. and U.K. Strike Trade Deal Following Trump Tariffs
May 7, 2025: CIT Issues Classification Neither Party Advocated
May 1, 2025: A Brief Survey of the IEEPA Legal Challenges
Apr. 30, 2025: CBP Clarifies: In-Transit Tariff Exemption Applies Only to Vessel Shipments
Apr. 29, 2025: Administration to Ease Auto and Parts Tariffs
Apr. 29, 2025: Latest Executive Order Limits Tariff Stacking
Apr. 24, 2025: De Minimis Ending for Goods of China (and Hong Kong)
Apr. 23, 2025: Section 232 Takes on Medium and Heavy-Duty Trucks
Apr. 17, 2025: Another Rapid Response Mechanism Request on the Books
Apr. 16, 2025: Trump Orders National Security Investigation for Critical Minerals
Apr. 10, 2025: EU to Pause Countermeasure Response for 90 Days
Apr. 9, 2025: EU and China Strike Back with Tariffs on U.S. Imports
Apr. 9, 2025: Trump Announces 90-Day Pause on Country-Specific Reciprocal Tariffs
Apr. 8, 2025: Customs Issues "Reciprocal Tariffs" Guidance
Apr. 8, 2025: White House Indicates China Will Face (at least) 104% Duties
Apr. 4, 2025: Tariff Subheading Guidance for ‘Reciprocal Tariffs' Published

View Archive

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