list of ofac countries 2021

Advertisers and sponsors are not responsible for site content. AGENCY: The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the name of one vessel that has been removed from the Specially Designated Nationals and Blocked Person List (SDN List). Jurisdiction for Cuba) from participating in activities with embargoed countries, their representatives, or nationals. Additional OFAC Sanctions Lists. If the country tag is listed in column 1 rather than an "X", the sanction program is not all encompassing and impacts only transactions with or benefitting designated persons. If one country invaded another country, OFAC would enforce sanctions by freezing trade and other assets. 2021 Operations Compliance Triage Conference; . ofac countries list 2021 provides a comprehensive and comprehensive pathway for students to see progress after the end of each module. WHO IS SANCTIONED? Do you have an updated list of the countries with FinCEN advisory warnings? Terrorism 3. International Narcotics Traffickers 4. For […] Sanctions are essentially the imposition of arbitrary measures of economic and inhumane hardship on a country. Notice of OFAC Action (s) On January 11, 2021, OFAC determined that the property and interests in property subject to U.S. jurisdiction of the following persons are blocked under the relevant sanctions authorities listed below. In addition, OFAC imposed investment restrictions on one Chinese company in connection with the surveillance technology sector. Best Practices To Help Your Business . The new lists are for 2021-2025 and replace those previously used between 2016 and 2020.The lists provide a focus for global action on TB, HIV-associated TB and drug-resistant TB in the countries where . Please help us keep BankersOnline FREE to all banking professionals. On March 24, 2022, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) issued two new and two reissued General Licenses and issued new and revised Frequently Asked Questions (FAQs). For these countries, updated statements are provided below. A. Countries with comprehensive or extensive sanctions include Iran, Cuba, Sudan, Syria, and North Korea. ACTION: Notice. It also lists individuals, groups, and entities, such as terrorists and 2021 was a year of transition in the United States and for the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC). 1. June 28 . Foreign Sanctions Evaders (FSE) List: It is an OFAC list of foreign individuals and organizations that have been found to have violated U.S. sanctions against Syria or Iran. OFFICE OF FOREIGN ASSETS CONTROL CHANGES TO THE Non-SDN Menu-Based Sanctions List (NS-MBS List) SINCE JANUARY 1, 2021 ! In 2021, the Treasury issued a total of 765 new designations with the majority (51 percent) pursuant to country-specific sanctions programs, mainly Belarus, Burma, China, and Russia, and 787 delistings with roughly 92 percent pursuant to thematic sanctions programs, mainly addressing drug trafficking. See Sanctions Program and Country Summaries for more specific information. Sanctioned countries include the following: Balkans Belarus Burma Ivory Coast Cuba Democratic Republic of Congo Iran Iraq Liberia North Korea Syria Zimbabwe It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific.OFAC updates its website on a regular basis. The World Health Organization (WHO) today released updated global lists of high burden countries for tuberculosis (TB), HIV-associated TB and multidrug/rifampicin-resistant TB (MDR/RR-TB). BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. OFAC Sanctions List. This list is current as of May 30, 2021. (15 CFR 744, Supp. On December 10, 2021, the Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned 15 individuals and 10 entities in several countries for their connection to human rights abuse and repression. In January 2021, President Biden was sworn into office and for the first time in a decade, Democrats assumed control of both chambers of Congress. Department of Treasury (OFAC): OFAC SDN Lists (20+ Countries): As part of its enforcement efforts, OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. Checking these lists is crucial for any organization doing business in the U.S. or globally because these business activities are subject to heavy civil and even criminal penalties. Updated September 2021 Country security risk ratings are necessary to ensure that appropriate security measures are applied where risk is the greatest. OFAC Sanctions Update - June 2021. Advertisers and sponsors are not responsible for site content. Support our advertisers and sponsors by clicking through to learn more about their products and services. OFAC also added more than 400 parties to the Specially Designated Nationals and Blocked Persons List ("SDN List"). OFAC publishes lists of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. Sectoral Sanctions Identifications (SSI) List: OFAC lists the people, companies, and organizations in the Russian economy's energy and finance sectors. As well, most OFAC country-based sanctions . In brief On 17 May 2021, the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") issued an additional round of sanctions pursuant to Executive Order 14014 "Blocking Property with Respect to the Situation in Burma" ("EO 14014"). Both the White House and Secretary of State Antony J. Blinken also released statements found here and As of mid-February 2021, OFAC's SDN List had over 20,400 party names. The CAPTA List replaced a number of separate lists to ease enforcement and make it convenient for market participants to vet transactions. Best Practices For Ofac Compliance In 2021 . For the most current countries information, please visit the U.S. Department of Treasury website. VerDate Sep. 11>2014 17:21 Sep 07, 2021 Jkt 253001 Office of Foreign Assets Control, Treasury. The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to . Countries: Sanctions and Embargoes. SUMMARY: The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC's Specially Designated Nationals and Blocked Persons List Start Printed Page 6240 (SDN List) based on OFAC's determination that one or more . First published on 10/31/2021. 30 September 2021 Depending on the country's embargo or sanctions program, certain activities may be prohibited without a government license. Democratic Republic of the Congo. Medium Risk. Countries with broad prohibitions are indicated in Column 1 with an "X." Detailed informationon the sanctioned countries in column 1 can . This Sanctions List Search application ("Sanctions List Search") is designed to facilitate the use of the Specially Designated Nationals and Blocked Persons list ("SDN List") and other sanctions lists administered by OFAC, including the Foreign Sanctions Evaders List, the Sectoral Sanctions Identifications List, the List of Foreign Financial Institutions Subject to Correspondent Account or . US sanctions affect a third of humanity with more than 8,000 measures impacting 39 countries. In addition to all aforementioned countries, it currently includes Burma, Cote D'Ivoire (Ivory Coast), Democratic Republic of Congo, Iraq, Liberia, Sudan, Syria, and Zimbabwe. Here is a recap of recent actions by the Department of Treasury's Office of Foreign Assets Control (OFAC) from June 2021. OFFICE OF FOREIGN ASSETS CONTROL CHANGES TO THE Specially Designated Nationals and Blocked Persons List SINCE JANUARY 1, 2021 ! Cuba, Iran).Others are "targeted" (i.e. - freezing of funds and economic resources. The most significant change announced today is the State Department's decision to add Russia to the International Traffic in Arms Regulations' (ITAR) list of "proscribed countries," commonly known as the Section 126.1 list. Start Preamble AGENCY: Office of Foreign Assets Control, Treasury. However, to ensure that you adhere to some basic compliance elements, here are four key points to follow. June 28: OFAC added Ousmane Illiasou, a Niger national to the Specially Designated Nationals (SDN) List. List of 39 countries targeted by economic sanctions WHAT ARE SANCTIONS? Here's why: U.S. sanctions programs vary in scope.Some are broad-based and oriented geographically (i.e. And the penalties are severe: fines can range from $11,000 to $1 million for each violation, even if the violation was unintentional. The Office of Foreign Assets Control (OFAC) is a US Department of Treasury agency that implements commercial and economic sanctions to support US security and foreign policy objectives. 15 November 2021. These include "primary" names, as well as alternate names, or aliases. Countries with broad prohibitions are indicated in Column 1 with an "X." Detailed informationon the sanctioned countries in column 1 can . In total, OFAC issued a total of 765 new designations and de-listed another 787 parties. Below we examine several lessons learned from OFAC enforcement actions during the first half of 2021. Coordination with allies—especially the . Office Of Foreign Asset Control - OFAC: A department of the U.S. Treasury that enforces economic and trade sanctions against countries and groups of individuals involved in terrorism, narcotics . Here is a recap of recent actions by the Department of Treasury's Office of Foreign Assets Control (OFAC) from June 2021. (TD Bank), OFAC found that TD Bank opened nine accounts and processed 1,479 . The Department of Homeland Security (DHS), in consultation with the Department of State (DOS), have announced the list of countries whose nationals are eligible to participate in the H-2A and H-2B visa programs in 2021. On December 30, 2020, the Office of Foreign Assets Control ("OFAC") announced a settlement agreement with BitGo, Inc. ("BitGo") for providing digital wallet services to users located in sanctioned jurisdictions, including Crimea, Cuba, Iran, Sudan, and Syria. ACTION: Notice. Office of Foreign Assets Control (OFAC) Embargoed Countries Cuba, Iran, Syria, North Korea, Myanmar (formerly Burma) and Sudan. Start Preamble AGENCY: Office of Foreign Assets Control, Treasury. Office of Foreign Assets Control (OFAC), a department of the U.S. Treasury, administers and enforces economic and trade sanctions primarily against: 1. Source: U.S. Dep't of Treasury, The Treasury 2021 Sanctions Review (Oct. 18, 2021) The sanctions can be either comprehensive or selective, using the blocking of assets and trade restrictions to accomplish foreign policy and national security goals. Complying with OFAC regulations is not a straightforward task as there is no single list that you can check. Entities owned by governments of embargoed . Support our advertisers and sponsors by clicking through to learn more about their products and services. On September 17, 2021, President Biden signed Executive Order 14046, "Imposing Sanctions on Certain Persons With Respect to the Humanitarian and Human Rights Crisis in Ethiopia" ("EO 14046") aimed at addressing the widespread humanitarian conflict in northern Ethiopia. each country or jurisdiction and its capacity to share information and cooperate in international investigations. With a team of extremely dedicated and quality lecturers, ofac countries list 2021 will not only be a place to share knowledge but also to help students get inspired to explore and discover many creative ideas . Notwithstanding these changes, the U.S. government has continued to rely on economic sanctions. 01/12/2021. If it's valid you can't accept the wire. All U.S.-cleared transactions are subject to U.S. sanctions, regardless of underlying currency. OFAC administers a number of different sanctions programs. 26 October 2021. Economic sanctions are also known as embargoes. Burundi (BI) - restrictions on admission of certain natural persons. And in January 2021 alone, the following sanctions programs were updated on the SDN List: Foreign . ACTION: Notice. Burma (MM) see Myanmar. OFFICE OF FOREIGN ASSETS CONTROL Non-SDN Menu-Based Sanctions List (NS-MBS List) February 28, 2022 foreign-activities-sanctions#directives; Non-SDN Menu-Based Sanctions List (NS-MBS List) This publication by the Department of the Treasury's Office of Foreign Assets Control (OFAC) is designed as a reference tool that Start Signature. If the country tag is listed in column 1 rather than an "X", the sanction program is not all encompassing and impacts only transactions with or benefitting designated persons. One new listing under the Libya regime. During 2021, OFAC also extended several general licenses, including extending the authorization for certain transactions with PdVSA, and issued a new general license on June 17, 2021 related to humanitarian assistance for the Covid-19 pandemic. Significantly, Treasury announced that it had removed the UAE from the Treasury List following the UAE's repeal of its law requiring participation with the Arab League Boycott of Israel and subsequent implementation Countries on this list are subject to a policy of denial for license applications, so the change will effectively . Belarus. OFAC-administered sanctions are imposed against targeted countries and regimes, as well . ACTION: Notice. The notice listing the eligible countries will be published in the Federal Register on Jan. 13, 2021. U.S. citizens and . Medium Risk. In certain circumstances, catch all controls require a license for exporting or will totally prohibit a transaction. If the export involves an item/activity controlled under the EAR or the ITAR, you must consult, in addition to the OFAC sanctions programs , the lists of embargoed and sanctioned countries administered by the EAR or the ITAR. " # "# ! Import and export industry. Currently, Treasury views the following countries as boycotting countries: Iraq Kuwait Lebanon Libya Qatar Saudi Arabia Syria Yemen The UAE, which has been designated as a boycotting country for quite some time, recently normalized its relations with Israel and canceled its boycott laws. The Office of Foreign Assets Control (OFAC) keeps a regularly updated list of restricted countries. At the time of this article, new sanctions programs that OFAC updated on this list include the Burma-related sanctions of February 22, 2021. Eight new listings under the Nicaragua regime. information about each. Countries with restricted entities on the EAR Entity Chart. We have an OFAC Compliance program, but I would like to send a bulletin to all departments listing these countries. After the failure of the Embargo Act of 1807, the federal government of the United States took little interest in imposing embargoes and economic sanctions against foreign countries until the 20th century. If you check your customer's intended recipient and, in the case of a credit to an account in a Pakistani bank, check the bank itself, and find a match to an OFAC SDN List entry, you should not accept the wire before checking to make sure the match is valid. The case is notable because OFAC makes clear its expectation that companies consider Internet Protocol ("IP") address . Cuba. The Department of Treasury, Office of Foreign Assets Control (OFAC) broadly regulates and restricts transactions with embargoed countries including certain academic collaborations and exchange of research materials and equipment. To implement the order, OFAC has established the Non-SDN Communist Chinese Military Companies List (NS-CCMC) and has been regularly issuing FAQs on the topic. President Woodrow Wilson promoted such sanctions as a method for the League of . Burundi. 10 November 2021. In the first of two matters OFAC settled simultaneously in December 2021, for a total of $115,005 with TD Bank, N.A. Start Preamble AGENCY: Office of Foreign Assets Control, Treasury. SUMMARY: The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC's Specially Designated Nationals and Blocked Persons List (SDN List) based on OFAC's determination that one or more applicable legal criteria were . The CAPTA List was created on March 1, 2018 as a single consolidated list that comprises all foreign financial institutions subject to correspondent account or payable-through account sanctions. As of January 8, 2021, the list reflects the three 2020 releases of the Department of Defense list. Please help us keep BankersOnline FREE to all banking professionals. SUMMARY: The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons and vessel that have been placed on OFAC's List of Specially Designated Nationals and Blocked Persons (SDN List) based on OFAC's determination that one or more applicable legal . On March 24, 2022, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) issued two new and two reissued General Licenses and issued new and revised Frequently Asked Questions (FAQs). After World War I, interest revived. Like his Republican predecessor, President Biden has embraced sanctions as a key component of his administration's foreign policy. On December 30, 2020, the Office of Foreign Assets Control ("OFAC") announced a settlement agreement with BitGo, Inc. ("BitGo") for providing digital wallet services to users located in sanctioned jurisdictions, including Crimea, Cuba, Iran, Sudan, and Syria. The most comprehensive controls apply to: Cuba, Iran, North Korea, Sudan, Syria, and Crimea, Donetsk, Luhansk . Burundi Central African Republic Sanctions Cuba Crimea region Iran Iraq Lebanon Libya North Korea Somalia South Sudan-related Sanctions Sudan and Darfur Syria Venezuela Yemen OFAC grey/high-risk countries Users from these countries have to verify their ID before they can send out or sell cryptocurrency: Albania Belarus Bosnia and Herzegovina United States trade policy was entirely a matter of economic policy. Walmart Stores utilizes BSI - British Standards Institute for the analysis of the supply chain risk of each country where Walmart Stores conducts sourcing business. Today's post - the second half of our OFAC 2021 Year in Review - updates our July summary and provides what we believe are the top dozen (with a lucky thirteenth added for good measure) lessons that industry should . Where is OFAC's country list? Start Printed Page 4179 Start Printed Page 4180. Countries of Concern. Generally speaking, a license may be required to ship or transfer "controlled" technology, data, or items to certain countries outside of the United States (the technology, data, or items are considered to be "controlled" if found on the EAR Commerce Control List or the ITAR Munitions List). . Office of Foreign Assets Control (OFAC) Countries. The past six months have served as yet another reminder that any transaction that clears through the United States must comply with OFAC . . information about each. It designates and adds the State Administrative Council ("SAC"), four individual members of the SAC, BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. $ % & % '! Yes, sanctions issued February 10th 2021 by Executive order 14014 (previous sanctions of the US were lifted in its entirety on October 7th, 2016). Countries of primary concern identified by the US State Department as still being offshore financial centers in the INCSR 2021 Volume II Reports are listed as "USDS OFC." 4D. US Banned Countries Sanctioned For Business list as supplied from the The Office of Foreign Assets Control (OFAC), which is a financial intelligence and enforcement agency of the U.S. Treasury Department. OFAC's year, while busy, was far different from 2020, as the Biden Administration's political team at the Treasury took office, conducted a sweeping sanctions review, and began implementing the Administration's sanctions policy priorities. The case is notable because OFAC makes clear its expectation that companies consider Internet Protocol ("IP") address . SUMMARY: The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC's Specially Designated Nationals and Blocked Persons List based on OFAC's determination that one or more applicable legal criteria were satisfied. The Consolidated Scan List (CSL) contains parties the United States Government has imposed restrictions on certain exports. Burkina Faso and Senegal were given the opportunity and chose to defer reporting due to the pandemic; thus, the statements issued in February 2021 for these jurisdictions are included below, but they may not necessarily reflect the most recent status of the jurisdiction's AML/CFT regime. Govt's of countries targeted by OFAC Regs 2. SANCTIONED COUNTRIES U.S. economic sanctions broadly prohibit a "U.S. person" (person subject to U.S. List of Comprehensively Sanctioned Countries Most transactions, including those involving persons or entities "ordinarily resident" in these countries, require an Office of Foreign Assets Control (OFAC) License. In an effort to support the foreign policy of the United States and to protect the nation's trade and security interests, the Office of Foreign Assets Controls (OFAC) imposes economic and trade sanctions on foreign countries and regimes whose own interests are in conflict with those of the United States. Also in March 2021, Venezuela was included in the list of countries subject to BIS's MIEU Rule. The Office of Foreign Assets Control, or OFAC for short, is a financial intelligence and enforcement agency of the U.S. Treasury Department. The 30 high TB burden countries: Cambodia, the Russian Federation and Zimbabwe have transitioned out of the list; Gabon, Mongolia and Uganda have joined the list. Cuba. The Office of Foreign Assets Control (OFAC) does not maintain a specific list of countries that U.S. persons cannot do business with. Click to see full answer Correspondingly, what is on the OFAC list? This list is current as of March 10, 2022. The This is done in order to facilitate talks or other action that would stop conflict. Below is the U.S. Department of State's list of entities and subentities under the control of, or acting for or on behalf of, the Cuban military, intelligence, or security services or personnel with which direct financial transactions would disproportionately benefit such services or personnel at the expense of the Cuban people or private enterprise in Cuba. Other Countries Subject to OFAC Sanctions ACTION: Notice. Balkans. Also, do you have a list of OFAC Sanctioned Countries? counter-terrorism, counter-narcotics) and focus on specific individuals and entities.These programs may . Illiasou was designated in relation to counterterrorism concerns. Proliferation of WMD's. I was doing some training today and this list sort of struck me: OFAC . Active Sanctions Programs: Program Last Updated: Afghanistan-Related Sanctions 02/25/2022 Balkans-Related Sanctions 01/05/2022 Belarus . On April 8, 2021, the US Treasury Department published an updated List of Countries Requiring Cooperation With An International Boycott (the "Treasury List"). print email share. This Sanctions List Search application ("Sanctions List Search") is designed to facilitate the use of the Specially Designated Nationals and Blocked Persons list ("SDN List") and other sanctions lists administered by OFAC, including the Foreign Sanctions Evaders List, the Sectoral Sanctions Identifications List, the List of Foreign Financial Institutions Subject to Correspondent Account or . The OFAC full list of current sanctions can be found on the OFAC website. " # $ $ $ % $ Central African Republic. 4 - pdf file) China, India, Israel, Pakistan, Russia. Wednesday, July 21, 2021. Three new listings under the Yemen regime. Sectoral Sanctions Identifications (SSI) List: OFAC lists the people, companies, and organizations in the Russian economy's energy and finance sectors. OFAC also added more than 400 parties to the Specially Designated Nationals and Blocked Persons List ("SDN List"). Start Preamble AGENCY: Office of Foreign Assets Control, Treasury. By Treasury's own estimate, there were roughly 9,421 sanctioned parties by late 2021—a 933 percent increase since 2000. Back in July, we took a look at the enforcement actions for the first half of 2021 issued by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC). There is a lot of dynamism in developments on the SDN List and contents get updated rather frequently. 20,400 party names scope.Some are broad-based and oriented geographically ( i.e countries economic! Niger national to the Specially Designated Nationals ( SDN ) list Advisories and OFAC sanctioned countries - Bankers Online /a... Through to learn more about their products and services these changes, the government... S of countries targeted by OFAC Regs 2 I was doing some training and. Economic and inhumane hardship on a country policy of denial for license applications, the. Are imposed against targeted countries policy was entirely a matter of economic policy ; targeted & quot (. 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Bulletin to all banking professionals replaced a number of separate lists to ease enforcement and make it convenient market... Government license 13, 2021 Donetsk, Luhansk estimate, there were 9,421. Are not responsible for site content OFAC Regs 2 Woodrow Wilson promoted such sanctions as a method for the of! To list of ofac countries 2021 well as alternate names, or acting for or on behalf of targeted...

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