⚠️OFAC Sanctions Impacting U.S. Businesses in the Energy Sector
Notice of OFAC Sanctions Action
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 vessels 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 satisfied. All property and interests in property subject to U.S. jurisdiction of these persons, including the identified vessels, are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
Agencies
- Treasury Department
- Foreign Assets Control Office
Business Impact
$$ - Med
This notice outlines OFAC sanctions, prohibiting transactions with listed individuals and entities. Businesses must ensure compliance to avoid penalties, especially if they engage in sectors related to the affected parties, primarily in the energy industry. Violations may result in significant financial and operational repercussions.