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 sanctions based on U.S. foreign policy and national security goals against targeted foreign states, organizations, and individuals.
As of March 2012, Adam J. Szubin is Director of OFAC. He was named to the position in August 2006.
Read more about Office Of Foreign Assets Control: History, Authority and Activities, Constitutional Deficiencies Found in OFAC Procedures, Specially Designated Nationals List
Famous quotes containing the words office, foreign and/or control:
“Reason is, and ought only to be, the slave of the passions, and can never pretend to any other office than to serve and obey them.”
—David Hume (1711–1776)
“Don’t use that foreign word “ideals.” We have that excellent native word “lies.””
—Henrik Ibsen (1828–1906)
“I have not ceased being fearful, but I have ceased to let fear control me. I have accepted fear as a part of life, specifically the fear of change, the fear of the unknown, and I have gone ahead despite the pounding in the heart that says: turn back, turn back, you’ll die if you venture too far.”
—Erica Jong, U.S. author. In an essay in The Writer on Her Work, ch. 13 (1980)