Search Results for keywords:"Foreign Assets Control"

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Search Results: keywords:"Foreign Assets Control"

  • 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.

  • Type:Notice
    Citation:89 FR 101095
    Reading Time:about 5 minutes

    The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has added several individuals and entities to its Specially Designated Nationals and Blocked Persons List because they met certain legal criteria. As a result, all their property and any interests they have within the U.S. are blocked, and U.S. citizens are prohibited from doing business with them. These sanctions are mainly related to their activities in the financial and technology sectors of the Russian Federation economy. This action was taken under the authority of Executive Order 14024.

    Simple Explanation

    The U.S. Treasury has put some people and companies from Russia on a special list because they broke certain rules, so now Americans can't do business with them. This is to stop them from using their money and things they own in America.

  • Type:Notice
    Citation:90 FR 8423
    Reading Time:about a minute or two

    The Office of Foreign Assets Control (OFAC) within the U.S. Department of the Treasury has removed specific names from its Specially Designated Nationals and Blocked Persons List. These individuals had their property and interests blocked under sanctions related to the West Bank. This change follows an Executive Order issued on January 20, 2025, which revoked a previous order from February 1, 2024, that had imposed the sanctions. As a result of this action, the affected individuals' assets are no longer blocked.

    Simple Explanation

    The government decided that certain people's money and things are no longer blocked, so they removed their names from a special list, kind of like taking them off a naughty list, because a new rule replaced an old one.