OFAC Request for Additional Information: What Does It Mean?
Introduction
A request from the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury for additional information or supporting documents is a fairly common occurrence when dealing with this agency. Such requests often arise, for example, when submitting an application to OFAC for a license or removal from the U.S. sanctions list.
There are also situations where...
What Should You Do If You’re Added to the OFAC SDN list?
Once you or your company have been added to the OFAC SDN list, inevitable questions arise: “Is there anything that can be done about this? And if so, what exactly? Or perhaps it’s better to wait and do nothing for now? ”Adopting a 'wait and see' approach is rarely a rational or justifiable response when an individual or business is placed on a U.S. sanctions list—and here’s why.
What Happens...
Grounds for Removal from SDN OFAC List
Introduction
There are several grounds on which removal from the SDN OFAC sanctions list may be pursued. Each of these grounds requires demonstrating a change in circumstances and eliminating original causes, inaccuracies, or errors on the part of OFAC.
Change in Conduct and Elimination of Original Causes
One of the most effective grounds for removal from the OFAC Specially Designated...
US Anti-Russian Sanctions Based on E.O. 14024 Extended
Executive Orders 14024 and 13660 on the State of Emergency and US Anti-Russian Sanctions
Executive Order No. 14024 of April 15, 2021 (E.O. 14024) is one of the foundational documents upon which various anti-Russian sanctions were based. While Executive Order 13660 of March 6, 2014 (E.O. 1360), another foundational document, directly links sanctions against Russia to its unlawful actions...