OFAC - Office of Foreign Assets Control
General
PL: OFAC - Biuro Kontroli Aktywów Zagranicznych USA | DE: OFAC - US-Amt für die Kontrolle ausländischer Vermögenswerte
Definition
OFAC (Office of Foreign Assets Control) is a US Treasury Department agency responsible for administering and enforcing US economic and trade sanctions. OFAC maintains the SDN (Specially Designated Nationals) list. OFAC sanctions have extraterritorial reach - they can affect European companies trading in USD or using the US financial system.