Search Results for keywords:"legal criteria"

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Search Results: keywords:"legal criteria"

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  • 2025-01306 — Notice of OFAC Sanctions Action
    Type:Notice
    Citation:90 FR 7245
    Reading Time:less than a minute

    The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced that it has added one entity to its Specially Designated Nationals and Blocked Persons List (SDN List). This means that all properties and interests owned by this entity within U.S. jurisdiction are blocked, and U.S. citizens are generally not allowed to do business with them. This action follows OFAC's determination that certain legal criteria have been met, and it was officially issued on January 3, 2025. For more details, people can visit OFAC's official website.

    Simple Explanation

    The U.S. government has decided that a certain company is not allowed to do business with people in the U.S. because they've broken some rules, but they haven't said which company or which rules yet.

  • 2025-01876 — Notice of OFAC Sanctions Action
    Type:Notice
    Citation:90 FR 8428
    Reading Time:about a minute or two

    The Office of Foreign Assets Control (OFAC), part of the U.S. Treasury Department, added one entity to its Specially Designated Nationals and Blocked Persons List (SDN List) as of January 17, 2025. This means all of the entity's property and interests in the United States are blocked, and U.S. people are not allowed to do business with it. The decision was made because the entity met certain legal criteria. More information and the SDN List can be found on OFAC's website.

    Simple Explanation

    The U.S. Treasury Department has a special list of people and companies that Americans can't trade with, because they did something wrong. They just added a new company to this list, but they didn't say why or who it is.

  • 2025-05028 — Notice of OFAC Sanctions Action
    Type:Notice
    Citation:90 FR 13661
    Reading Time:about a minute or two

    The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has published the names of certain individuals and ships that are now on the Specially Designated Nationals and Blocked Persons List (SDN List). This means their assets in the U.S. are blocked, and most U.S. citizens cannot conduct business with them. The decision is based on legal criteria met by these individuals or vessels, and relevant details will be available through OFAC's website. This action officially took place on March 20, 2025.

    Simple Explanation

    The U.S. Treasury's Office of Foreign Assets Control (OFAC) has made a list of people and ships whose U.S. assets are frozen, and most Americans cannot do business with them. This is because they did something that broke the rules, but the document doesn't say who they are or what rules they broke exactly.

  • 2024-28304 — Notice of OFAC Sanctions Action
    Type:Notice
    Citation:89 FR 95911
    Reading Time:about 6 minutes

    The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced the addition of several individuals to its Specially Designated Nationals and Blocked Persons List. These individuals, who are current or former officials of the Venezuelan government, will have their property and interests in property under U.S. jurisdiction blocked, and U.S. persons are generally prohibited from engaging in transactions with them. This action is based on OFAC's determination that the legal criteria for such a designation have been met under executive orders related to the situation in Venezuela.

    Simple Explanation

    The U.S. government has decided to add some Venezuelan people to a list because they believe these people did something wrong. Now, Americans can't do business with these people, and anything they own in the U.S. is frozen, like when water turns to ice in the freezer.

  • 2025-01875 — Notice of OFAC Sanctions Action
    Type:Notice
    Citation:90 FR 8422
    Reading Time:about a minute or two

    The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced that it has added an individual's name to its Specially Designated Nationals and Blocked Persons List (SDN List). This action means the person's property and assets under U.S. jurisdiction are blocked, and U.S. citizens and businesses are not allowed to conduct transactions with them. This decision was made because the individual met certain legal criteria. More information and the full list can be found on OFAC's website.

    Simple Explanation

    The government has put a person on a special list because they did something wrong, so now people in America can't do business with them. This means their stuff in America is "frozen" and can't be used.

  • 2021-00767 — Notice of OFAC Sanctions Actions
    Type:Notice
    Citation:86 FR 4177
    Reading Time:about a minute or two

    The Office of Foreign Assets Control (OFAC) within the U.S. Treasury Department announced that they have added certain individuals to their Specially Designated Nationals and Blocked Persons List. This designation means these individuals' properties within the U.S. are blocked, and U.S. individuals and businesses are not allowed to engage in transactions with them. The updated list and further details on OFAC's sanctions are available on their official website.

    Simple Explanation

    The government made a list of people whose money and things in the U.S. are "frozen," which means others can't use them or do business with these people. This helps make sure bad guys don't get to use their stuff in the U.S.

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