Notice of OFAC Sanctions Action
Published Date: 1/6/2025
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, starting December 31, 2024. This move aims to stop bad actors from using the U.S. financial system and sends a clear message about consequences.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
Assets Of Listed Persons Frozen
OFAC has blocked all property and interests in property subject to U.S. jurisdiction belonging to the person(s) added to the SDN List. Those asset blocks took effect on December 31, 2024 and prevent the listed persons from accessing or using property in the United States.
U.S. Persons Barred From Deals
If you are a U.S. person (an individual or a U.S. company), you are generally prohibited from engaging in transactions with the person(s) added to OFAC's Specially Designated Nationals (SDN) List. That prohibition began on December 31, 2024 and means you must not do business with those listed individuals or entities.
SDN List Published Online
OFAC states the SDN List and more information are available on OFAC's website at https://ofac.treasury.gov. You (individuals and businesses) can check that list to see who is blocked and avoid prohibited transactions.
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