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OFAC General Licenses

OFAC publishes general licenses that authorize certain transactions or activities that would otherwise be subject to restrictions under U.S. sanctions. Users of general licenses generally don't need to apply for a specific license. 

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Former OFAC Official Joins Steptoe as Partner
June 2, 2021 |Trade People

Dave Stetson, former senior lawyer at the Treasury Department's Office of Foreign Assets Control, has joined Steptoe & Johnson's International Trade and Regulatory Compliance Group as a partner in the New York office, the firm announced in a June 1 news release. Stetson previously served as the lead sanctions lawyer for Goldman Sachs' global business lines. At OFAC, Stetson was an attorney-adviser in the Office of the Chief Counsel, where he conducted reviews for OFAC licenses and advised on the drafting of sanctions statutes, executive orders and regulations.

Robust Enforcement, Due Diligence Concerns Among Growing Sanctions Compliance Challenges, Lawyers Say
May 26, 2021 by Ian Cohen|Other U.S.

Sanctions compliance is increasingly presenting challenges to companies around the world as more countries turn to sanctions as a foreign policy tool, Baker McKenzie lawyers said. Some recent challenges include the growing emphasis on sanctions enforcement and the due diligence issues presented by countries with little publicly available information on ownership chains, the lawyers said.