Which office administers economic sanctions and embargo programs?

Which office administers economic sanctions and embargo programs?

• A. U.S. Treasury Department's Office of Foreign Assets Control (OFAC)
• B. Federal Reserve System
• C. Office of Management and Budget
• D. Department of Justice

Answer: (A)

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) is responsible for administering economic sanctions and embargo programs. This office implements and enforces sanctions against foreign countries and regimes, terrorists, international narcotics traffickers, and other threats to U.S. national security, foreign policy, or economy. OFAC's mission includes preventing illegal transactions involving restricted parties, and to accomplish this, it administers a variety of sanctions programs that restrict the ability of individuals and entities to engage in specified economic activities with particular countries or groups. This makes the U.S. Treasury Department's OFAC the correct answer, as it is specifically designated to handle these programs effectively.

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) is responsible for administering economic sanctions and embargo programs. This office implements and enforces sanctions against foreign countries and regimes, terrorists, international narcotics traffickers, and other threats to U.S. national security, foreign policy, or economy.

OFAC's mission includes preventing illegal transactions involving restricted parties, and to accomplish this, it administers a variety of sanctions programs that restrict the ability of individuals and entities to engage in specified economic activities with particular countries or groups. This makes the U.S. Treasury Department's OFAC the correct answer, as it is specifically designated to handle these programs effectively.