OFAC is an agency of US department of the treasury. Economic and trade sanctions are administered and enforced by The Office of Foreign Assets Control also known as OFAC. This agency maintains and publishes a list that includes all such states, organizations and individuals that sponsor or are involved in terrorism activities. This list is known as Special Designated Nationals or OFAC SDN list. These sanctions are forced by US government based on U.S. foreign policy and nationwide defense goals in opposition to targeted states, organizations and individuals such as Iran and North Korea.
Trade companies and organizations of US are not permitted to contract with any such state, organization or individual listed in SDN list. Iran is in front of political and economical troubles due to Iran sanctions from a long period of time. Under sanctions nuclear, missile and certain military exports to Iran are prohibited. Other investments in oil, gas and petrochemicals and their exports are not permitted or are prohibited. This has affected trade dealings with Iranian Republic Guard Corps. Banking transactions, insurance transactions and transfer money to Iran related matters. Ferrari & Associates, P.C. is a law firm that has represented numbers of clients involved in matters related to US economy or Iran Sanctions such as ban on business dealings or transfer money to Iran pending before OFAC. Serious federal and international criminal offenses and federal employment matters are also represented by the firm.
