Office of Foreign Assets Control (OFAC)

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The Office of Foreign Assets Control (OFAC) is a U.S. government agency under the Department of the Treasury responsible for implementing economic sanctions. It has been involved in sanctioning entities from various countries, including India and Serbia, as well as lifting restrictions on companies and individuals from Turkey, Venezuela, and Russia. OFAC also manages licenses that allow certain transactions, such as those related to disaster relief efforts in Venezuela.

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