OFAC sanctions are diplomatic, economic and trade regulations enforced by the United States of America and targeted against terrorism, drug trafficking, foreign regimes, mass destruction weapons proliferation, or any countries, individuals and entities engaged in activities that threaten the US foreign policy, economy or security.
To give an example, sanctions can be:
- restrictions on financial transactions;
- investment bans;
- arms embargoes;
- trade barriers and tariffs;
- import/export bans on goods;
- travel bans;
- freezing of assets.