What is the primary role of the Office of Foreign Assets Control (OFAC)?

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The primary role of the Office of Foreign Assets Control (OFAC) is to administer and enforce economic and trade sanctions. This agency operates under the U.S. Department of the Treasury and is tasked with enforcing sanctions based on U.S. foreign policy and national security goals. These sanctions are often directed at countries, regimes, terrorists, international narcotics traffickers, and those involved in activities related to the proliferation of weapons of mass destruction.

By implementing these sanctions, OFAC aims to restrict access to the U.S. financial system and economy by designated individuals or entities, thereby attempting to prevent actions that could threaten U.S. national security or foreign policy interests. This straightforward mandate of enforcing sanctions differentiates OFAC from other regulatory bodies, making it a critical player in the realm of international relations and economics.

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