Office of Foreign Asset Control

{
  "id": "MLC-T-ECS-001336",
  "term": "Office of Foreign Asset Control",
  "field": "Economic statistics",
  "definition": "An agency within the U.S. Department of the Treasury that administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals against targeted foreign countries, terrorists, international narcotics traffickers, and those engaged in activities related to the proliferation of weapons of mass destruction. The OFAC acts under Presidential wartime and national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze foreign assets under U.S. jurisdiction.",
  "abbreviation": "OFAC",
  "subject": "Foreign trade",
  "see_also": [
    "Statistics about Foreign Trade"
  ],
  "references": [
    "U.S. Census Bureau Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/office-of-foreign-asset-control/"
}