OFAC

OFAC Advises on Key Elements of Sanctions Compliance Program

OFAC Advises on Key Elements of Sanctions Compliance Program

The US Treasury Department’s Office of Foreign Assets Control (“OFAC”) administers and enforces U.S. economic and trade sanctions programs against targeted foreign governments, individuals, groups, and entities in accordance with national security and foreign policy goals and objectives. OFAC recently issued guidance strongly encouraging domestic and foreign entities that conduct business with the US, US persons, …

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Russian OFAC Sanctions

OFAC to De-List Certain Sanctioned Russian Entities

On December 19, the U.S. Treasury Department, Office of Foreign Assets Control (OFAC) announced their intention to remove three Russian entities from their List of Specially Designated and Blocked Persons List (SDN List) within 30 days. The SDN’s that were de-listed are En+ Group plc (“En+), UC Rusal plc (“Rusal”), and JSC EuroSibEnergo (“ESE”).