Frequently Asked Questions About OFAC

Below is a list of OFAC-related frequently asked questions answered by an OFAC sanctions attorney

OFAC Unblocking License Obtained for SDN False Positive Match

Price Benowitz’s OFAC Law Group successfully obtained an OFAC unblocking license for a client whose personal funds were blocked due to an intermediary financial institution’s false positive match to the Specially Designated Nationals List. The client’s name resembled a person on the SDN list and the funds were blocked due to a lack of timely […]
Specific License Granted for Payment from SDN List Client

The OFAC Law Group was granted an OFAC specific license to obtain payment from an SDN client. The payment structure fell outside of the authorization of the general license to receive legal fee payments from an SDN person. Law firms must review the limitations of relevant authorizations to receive payment from SDN persons. SDN list […]
Breaking False Claims Act News: Qui Tam Settlement Reached

While the defendants did not admit any fault, we are happy to report that PAE agreed to pay the United States $5,000,000 to resolve the False Claims Act allegations contained in Mr. Palombo’s Complaint.

Closure of 90-day Wind-Down Period Instills Fear; Auto Industry Halts Investments

With the first wave of reinstated sanctions hitting Iran on August 7, 2018, German carmaker Daimler froze its plans to expand into the Iranian market. Daimler, the world’s biggest luxury carmaker and commercial vehicles manufacturer, has reversed its 2016 plans to re-establish ties with Iran’s automotive industry. In 2016 Daimler established a joint venture with […]

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JCPOA-related Waived U.S. Sanctions Snap Back on Iran

On August 7, 2018, the U.S. reinstated the first wave of sanctions against Iran as the 90-day wind-down period concluded. The Trump administration reimposed sanctions that prohibit Iran purchasing U.S. banknotes, commercial aircraft, trading gold and metals, and business with Iran’s automotive sector. The snapback provisions were evoked by President Trump’s May 8, 2018 decision […]

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Nike Decides Against Providing Footwear to Iranian World Cup Team, Citing U.S. Sanctions

There has been much controversy surrounding Nike’s decision to not provide Iran’s National Team (Team Melli) players with boots. The decision follows U.S. withdrawal from the JCPOA, an international nuclear agreement with Iran and world powers including the United States. On Friday, Nike said, “The sanctions mean that, as a U.S. company, we cannot supply […]

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