OFAC "SDN" SANCTIONS: Lifetime, Economic Death Penalty
The United States government, acting through the Department of Treasury's Office of Foreign Assets Control (OFAC), will target and "designate" a business, country or individual based on U.S. foreign policy and national security concerns. The designation can mean public humiliation and financial ruin. This form of economic warfare blocks (freezes) the designee's assets, seeks to limit its international trade and cut off all financial transactions that are subject to U.S. domestic or extraterritorial jurisdiction. It is an economic death penalty of sorts, and can last a lifetime.
Our firm will challenge OFAC's designation and seek to have the business, country or individual designee removed from the sanctions list resulting in a restoration of trade and financial relationships.
OFAC publishes a list of over 6,000 names of businesses and individuals that have been designated. A designation may occur because the business, country or individual is associated with a targeted country, or is associated with a subject matter such as, for example, terrorism or narcotics trafficking, and not country based. Collectively, the businesses and individuals are called "Specially Designated Nationals" or "SDNs." The SDN list is frequently updated. More.
Click here for videos.
For additional information please contact us.