PRESS RELEASES FATF Strengthens Financial Transparency Standards and Updates Evaluation Methodology March 4, 2022 WASHINGTON – Today the Financial Action Task Force (FATF) concluded its sixth plenary since the start of the ongoing COVID-19 pandemic, in a hybrid virtual/in-person session. The FATF agreed upon a revised standard to combat the […]
PRESS RELEASES U.S. Treasury Takes Additional Steps to Strengthen Compliance with Russia-Related Sanctions March 2, 2022 WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued new public guidance to cut off avenues for potential sanctions evasion by the Central Bank of the Russian […]
PRESS RELEASES U.S. Treasury Targets Belarusian Support for Russian Invasion of Ukraine February 24, 2022 WASHINGTON — As part of the United States’ serious and expansive response to Russia’s further invasion of Ukraine, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning 24 Belarusian individuals and entities […]
PRESS RELEASES U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic Costs February 24, 2022 United States Acts in Tandem with Partners and Allies to Maximize Consequences for Russia, and in Show of Unity Against Invasion of a Sovereign State Top Ten Russian Financial Institutions […]
PRESS RELEASES Treasury Releases Study on Illicit Finance in the High-Value Art Market February 4, 2022 WASHINGTON – Today, the U.S. Department of the Treasury published a study on the facilitation of money laundering and the financing of terrorism through the trade in works of high-value art. This study examined […]
PRESS RELEASES U.S. Treasury Expands Syria Nongovernmental Organizations General License November 24, 2021 Amends Syria Sanctions Regulations and Issues Two New FAQs WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) amended the Syrian Sanctions Regulations (SySR) to expand the authorizations for nongovernmental organizations (NGO) […]
The United States faces a changing world where financial innovation, shifts in global economic activity, and new geopolitical challenges are redefining how economic power can be used to support national security objectives. These shifts are accompanied by new and rising threats for which sanctions may be a critical tool of […]
Steps to Modernize Sanctions 1. Adopting a structured policy framework that links sanctions to a clear policy objective Economic and financial sanctions should be tied to clear, discrete objectives that are consistent with relevant Presidential guidance—such as countering forces that fuel regional conflict, ending support to a specific violent organization […]
THE TREASURY 2021 SANCTIONS REVIEW After the September 11, 2001 attacks, economic and financial sanctions (“sanctions”) became a tool of first resort to address a range of threats to the national security, foreign policy, and economy of the Unites States. This tool rests on the formidable strength of, and trust […]
PRESS RELEASES U.S. Department of the Treasury Releases Sanctions Review October 18, 2021 Report Emphasizes Need for Continued Multilateral Approach, Structured Policy Framework, and Enhanced Cost Mitigation WASHINGTON – The U.S. Department of the Treasury today released the results of a broad review of the economic and financial sanctions that […]
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