Yearly Archives: 2024

On June 18, the Office of Foreign Assets Control (OFAC) added two more individuals and seven more entities to the official sanctions list. These entities and individuals are all accused of providing a major source of revenue for Republika Srpska (RS) President Milorad Dodik and his family. Dodik has been designated on the sanctions list…

Have you heard that Russian warships have been spotted off the coast of Florida? While this military movement shouldn’t cause anyone to panic, it is a sign of concern considering the extreme global unrest that continues to escalate as a result of the Ukrainian situation. The White House isn’t backing down, though. In fact, the…

Since October 2023, the U.S. has been targeting the network of Sa’id al-Jamal, a Houthi financial facilitator, with various economic sanctions. Just recently, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) initiated a 7th round of financial sanctions against Sa’id al-Jamal and everyone who is supporting him. The sanctions specifically mention ten…

The Office of Foreign Assets Control (OFAC) is a U.S. governmental agency that’s tasked with ensuring that no one in the states is supporting terrorists, restricted governments, or other entities that are determined to be national threats. To enforce restrictions and uphold national security, the OFAC issues sanctions. These sanctions prohibit anyone from doing business…

Sanctions are a type of legal action taken by one country in order to punish another country, state, business, or group. These sanctions limit the freedom of the target and possibly put economic or political restrictions on them. For example, one country’s bad behavior might lead another country to put trade restrictions in place or…

The Office of Foreign Assets Control (OFAC) is the primary agency responsible for monitoring and controlling assets that are potentially landing in the hands of bad global actors. Most importantly, the OFAC seeks to ensure that terrorists, drug dealers, and human traffickers aren’t being funded through business deals, trades, and other sources. The OFAC achieves…

Back in February of 2022, the U.S. Treasury took significant action in response to Russia’s continued aggression in Ukraine. To help deter Russia from continuing down the same path, the U.S. Office of Foreign Assets Control decided to initiate specific sanctions against some of the country’s largest financial institutions. The sweeping OFAC sanctions targeted an…

On March 12, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) initiated sanctions against specific individuals who have been accused of materially assisting, sponsoring, and providing material, financial, or technological support, or goods or services to, or in support of Al-Ashtar Brigades. These individuals are all suspected operatives of the Al-Ashtar…

The Office of Foreign Assets Control settled its first case of 2024, and it’s a significant one. According to reports, EFG International AG, a private global banking group based out of Switzerland, has agreed to pay over $3.74 million for violations of multiple sanctions programs. The OFAC accused EFG of committing at least 727 securities…

The Office of Foreign Assets Control is in charge of issuing economic sanctions against individuals, companies, groups, and countries that are accused of aiding terrorists, narcotics traffickers, or other enemies of the state. These sanctions usually block assets or restrict trade to accomplish various national security goals. A recent action by the OFAC has done…