Office of Foreign Assets Control and Talk:Jacques-Michel Hurel de Lamare: Difference between pages

Content deleted Content added

Inline

Revision as of 22:55, 13 October 2008

This article is within the scope of WikiProject Classical music, which aims to improve, expand, copy edit, and maintain all articles related to classical music, that are not covered by other classical music related projects. Please read the guidelines for writing and maintaining articles. To participate, you can edit this article or visit the project page for more details.Classical musicWikipedia:WikiProject Classical musicTemplate:WikiProject Classical musicClassical music articles

@@ Line 1: / Line 1: @@
+{{Classical|class=stub|auto=yes}}
-[[Image:US-DeptOfTheTreasury-Seal.svg|thumb|150px|United States Department of the Treasury]]
-The '''Office of Foreign Assets Control''' ('''OFAC''') is an agency of the [[United States Department of the Treasury]] under the auspices of the [[Under Secretary of the Treasury for Terrorism and Financial Intelligence]]. OFAC administers and enforces economic and trade [[economic sanctions|sanctions]] based on [[U.S. foreign policy]] and [[national security]] goals against targeted foreign states, organizations, and individuals.
-The current director of OFAC is [[Adam J. Szubin]].
-==History==
-<!--This paragraph is derived mostly from http://www.archives.gov/research/guide-fed-records/groups/265.html#265.1 -->
-Involvement of the U.S. Department of the Treasury in economic sanctions against foreign states dates to the [[War of 1812]], when Secretary [[Albert Gallatin]] administered sanctions against [[Great Britain]] in retaliation for the [[Impressment|harassment]] of American sailors.<ref>{{cite web | url=http://www.treasury.gov/offices/enforcement/ofac/faq/answer.shtml#2 | title=Frequently Asked Questions | publisher=Office of Foreign Assets Control | accessdate = 2007-09-17}}</ref>
-The Division of Foreign Assets Control, the immediate predecessor to OFAC, was established in December 1950. Predecessor agencies of the Division of Foreign Assets Control include Foreign Funds Control, which existed from 1940 to 1947, and the Office of International Finance (1947 to 1950). OFAC's earliest predecessor, Foreign Funds Control, was established by [[Executive order (United States)|Executive Order]] 8389 as a unit of the Office of the Secretary of the Treasury on April 10, 1940. The authority to establish Foreign Funds Control was derived from the [[Trading with the Enemy Act]] of 1917. Among other operations, Foreign Funds Control administered wartime import controls over enemy assets and restrictions on trade with enemy states. It also participated in administering the [[Proclaimed List of Certain Blocked Nationals]], or the "Black List", and took [[censuses]] of foreign-owned assets in the United States and American-owned assets abroad. Foreign Funds Control was abolished in 1947, with its functions transferred to the newly established [[Office of International Finance]] (OIF). In 1948, OIF activities relating to blocked foreign funds were transferred to the [[Office of Alien Property]], an agency within the [[United States Department of Justice|Department of Justice]].<ref>{{cite web | title=Records of the Office of Foreign Assets Control | publisher=The National Archives | accessdate = 2007-09-17| url=http://www.archives.gov/research/guide-fed-records/groups/265.html#265.1}}</ref>
-The Division of Foreign Assets Control was established in the Office of International Finance by a Treasury Department order in 1950, following the entry of the [[People's Republic of China]] into the [[Korean War]]; President [[Harry S Truman]] declared a [[national emergency]] and blocked all Chinese and North Korean assets subject to U.S. jurisdiction. In addition to blocking Chinese and [[North Korean]] assets, the Division administered and certain regulations and orders issued under the amended Trading with the Enemy Act.<ref>{{cite web | url=http://www.treasury.gov/offices/enforcement/ofac/faq/answer.shtml#2 | title=Frequently Asked Questions | publisher=Office of Foreign Assets Control | accessdate = 2007-09-17}}</ref>
-On October 15, 1962, by a Treasury Department order, the Division of Foreign Assets Control became the Office of Foreign Assets Control.<ref>{{cite web | title=Records of the Office of Foreign Assets Control | publisher=The National Archives | accessdate = 2007-09-17| url=http://www.archives.gov/research/guide-fed-records/groups/265.html#265.1}}</ref>
-==Authority and activities==
-In addition to the Trading with the Enemy Act, OFAC derives its authority from a variety of [[U.S. federal laws]] regarding [[embargo]]es and economic sanctions. See [[United States embargoes]] for a list of affected countries.
-In enforcing economic sanctions, OFAC acts to prevent "prohibited transactions," which are described by OFAC as ''trade or financial transactions and other dealings in which U.S. persons may not engage unless authorized by OFAC or expressly exempted by statute.'' OFAC has the authority to grant exemptions to prohibitions on such transactions, either by issuing a general license for certain categories of transactions, or by specific licenses issued on a case-by-case basis.<ref>{{cite web | url=http://www.treasury.gov/offices/enforcement/ofac/faq/answer.shtml | title=Frequently Asked Questions | publisher=Office of Foreign Assets Control | accessdate = 2007-09-17}}</ref>
-==Specially Designated Nationals List==
-The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom [[United States citizens]] and permanent residents are prohibited from doing business.<ref>{{cite web | url=http://www.treasury.gov/offices/enforcement/ofac/faq/answer.shtml#17 | title=Frequently Asked Questions | publisher=Office of Foreign Assets Control | accessdate = 2007-09-17}}</ref>
-Lists similar to the Specially Designated Nationals List are maintained by the [[Bureau of Industry and Security]] of the [[U.S. Department of Commerce]]. These include the [[Denied Persons List]] and the [[Entity List]], which are concerned with issues of [[export]]ing goods that could pose a danger to U.S. interests if diverted or misused. While the two lists are similar in some respects, the differing goals of the OFAC and BIS lists preclude their being combined into a "master" list.<ref>{{cite web | url=http://www.treasury.gov/offices/enforcement/ofac/faq/answer.shtml#51 | title=Frequently Asked Questions | accessdate = 2007-09-17}}</ref> However, the SDN List is part of the [[Excluded Parties List System]],<ref>[http://www.epls.gov Excluded Parties List System<!-- Bot generated title -->]</ref> a federal initiative which also includes the BIS lists.
-==References==
-<references />
-==External links==
-*[http://www.treas.gov/offices/enforcement/ofac/index.html Office of Foreign Assets Control]
-*[http://verifilter.com/OFAC-SDN-Compliance.aspx Detailed FAQ about OFAC and other watchlists; online checking]
-*[http://www.instantofac.com Searchable OFAC SDN list]
-*[http://www.treas.gov/offices/enforcement/ofac/programs/ List of sanctions programs including nations]
-{{US Treasury agencies}}
-[[Category:1950 establishments]]
-[[Category:International sanctions]]
-[[Category:Export and import control]]
-[[Category:United States Department of the Treasury|Foreign Assets Control]]
-[[sv:OFAC]]