The
Office of Foreign Assets Control (OFAC) of the US Department of the
Treasury administers and enforces economic and trade sanctions based on
US foreign policy and national security goals against targeted foreign
countries and regimes, terrorists, international narcotics traffickers,
those engaged in activities related to the proliferation of weapons of
mass destruction, and other threats to the national security, foreign
policy or economy of the United States. OFAC acts under Presidential
national emergency powers, as well as authority granted by specific
legislation, to impose controls on transactions and freeze assets under
US jurisdiction. Many of the sanctions are based on United Nations and
other international mandates, are multilateral in scope, and involve
close cooperation with allied governments.
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