OFAC (Office of Foreign Assets Control)

The US Treasury agency that administers and enforces economic and trade sanctions based on US foreign policy and national security goals. It maintains the SDN List, issues general and specific licenses, runs sanctions programs codified in 31 CFR Chapter V, and assesses civil penalties for violations. Its authority derives from statutes including the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act. For shipping, its 14 May 2020 maritime advisory set the deception red flags and due-diligence baseline.