Exporting Basics: Basics
Where can I find information on trade sanctions?
The Office of Foreign Assets Control (OFAC) in the U.S. Treasury Department administers and enforces economic and trade sanctions against targeted foreign countries, terrorism-sponsoring organizations, and international narcotics traffickers based on U.S. foreign policy and national security goals. OFAC acts under Presidential wartime and national emergency powers, along with authority granted by specific legislation, to impose controls on transactions and freeze foreign assets under U.S. 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. Much of the information available from OFAC can also be accessed on its Internet website, http://www.treas.gov/ofac.
Note: Individuals and companies with questions or concerns about trade sanctions should be diligent in their efforts to understand and fully comply with all laws and regulations related to these. Failure to do so may result in substantial penalties.
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