Treasury Freezes Assets of Newly Sanctioned Individuals
Published Date: 1/28/2025
Notice
Summary
The U.S. Treasury’s OFAC just added new people to its blacklist, meaning their money and property in the U.S. are frozen. Americans can’t do business with these folks anymore, so watch out for blocked transactions. This move helps keep the financial system safe and signals serious consequences for those involved.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Assets of Listed Persons Are Blocked
The Office of Foreign Assets Control (OFAC) placed one or more persons on the Specially Designated Nationals and Blocked Persons List (SDN List). All property and interests in property of those persons that are subject to U.S. jurisdiction are blocked.
U.S. Persons Barred From Transactions
OFAC states that U.S. persons are generally prohibited from engaging in transactions with anyone placed on the SDN List. If someone is listed, Americans and U.S. businesses must not do business with that person.
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