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Alerts
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OFAC Publishes Economic Sanctions Enforcement Guidelines as Interim Final Rule, Effective Sept. 8, 2008
Written Comments Accepted on or Before Nov. 7, 2008
October 31, 2008
On Sept. 8, 2008, the Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published Economic Sanctions Enforcement Guidelines (“2008 Guidelines” or “the Guidance”) as an interim final rule, effective Sept. 8, 2008. The 2008 Guidelines supercede both the Economic Sanctions Enforcement Guidelines that OFAC issued as a proposed rule on Jan. 29, 2003 (“2003 Enforcement Guidelines”) and the Economic Sanctions Enforcement Procedures for Banking Institutions, rules applicable to banks, that were released as an interim final rule on Jan. 12, 2006 (“2006 Enforcement Guidelines”).
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