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The
Office of Foreign Assets Control ("OFAC ") of the US
Department of the Treasury administers and enforces economic and
trade sanctions based on US foreign policy and national security
goals against targeted foreign countries, terrorists, international
narcotics traffickers, and those engaged in activities related
to the proliferation of weapons of mass destruction.
OFAC acts under Presidential wartime and national emergency powers,
as well as authority granted by specific legislation, to impose
controls on transactions and freeze foreign assets under US jurisdiction.
Many of the sanctions are based on United Nations and other international
mandates, are multilateral in scope, and involve close cooperation
with allied governments.
Source: U.S. Treasury Department Website
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