OFAC FAQ (Current) FAQ # 1190 -Basic Information on OFAC and Sanctions

Date issued: Aug. 27 2024

Last substantive commentary amendment:
Sep. 02 2024

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TURBOFAC Commentary (761 words)

Notes:

1) As discussed at length in the comments to Jul 3/Jun 5, 2024 Informal West Bank-Related Guidance and Comments on Related Litigation, the impetus for this unusual FAQ appears to be the August 6, 2024 complaint in Texans for Israel v. U.S. Department of the Treasury (N.D. Tex. 2024) (litigation alleging the implementation of West Bank-related EO 14115 violates the First Amendment freedom of speech and free exercise clauses).

2) From a substantive perspective as it relates to the threshold question of whether and when IEEPA exemptions apply, this FAQ is notable for OFAC’s acknowledgement of the applicability of IEEPA exemptions in a way that should convey, to those otherwise not aware, that the exemptions apply to IEEPA-based programs even if such programs are not yet associated with regulations or are associated...