Farhad R. Alavi - Akrivis Law Group, PLLC
Description: Tracking Developments in U.S. and other International Sanctions Regulations
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced scores of designations onto its List of Specially Designated Nationals and Blocked Persons (the “SDN List”). The 25 individuals and 29 entities had a nexus to 20 jurisdictions. This move is in conjunction with the U.S. Department of State, which has sanctioned certain parties today, and the U.S. Department of Commerce’s Bureau of Industry & Security (BIS) which added 28 entities to its Entity List (more on that bel
OFAC Designations
For those not familiar with the SDN List, this list, which includes over 10,000 entries, is effectively a financial ban vis-a-vis the U.S. economy, prohibiting most dealings with between parties on the list and “U.S. persons” – generally defined as U.S. legal (e.g., companies and organizations) or natural persons (citizens and permanent residents, as well as non-citizens and non-permanent residents physically in the United States). Due in part to the prominence of this list and more importantly the U.S. eco
Farhad R. Alavi - Akrivis Law Group, PLLC