Which OFAC designation refers to individuals and entities blocked under sanctions?

Which OFAC designation refers to individuals and entities blocked under sanctions?

• A. Specially Designated Nationals and Blocked Persons
• B. Restricted Party List
• C. Entity List
• D. Denied Person List

Answer: (A)

OFAC designates individuals and entities blocked under sanctions with a single, specific label: Specially Designated Nationals and Blocked Persons. Being on this list means U.S. persons are prohibited from dealing with them, and any property or interests in property under U.S. jurisdiction that is in their possession or control can be blocked or frozen. This designation serves as the core mechanism for implementing sanctions across the U.S. financial system and other channels. The other terms come from different U.S. government agencies and relate to export controls rather than OFAC sanctions. Restricted Party List, Entity List, and Denied Persons List are managed by BIS (the Bureau of Industry and Security) and involve licensing requirements and restrictions on exporting or transferring certain goods and technology. While they indicate restricted parties, they are not the OFAC designation for sanctioned individuals and entities.

OFAC designates individuals and entities blocked under sanctions with a single, specific label: Specially Designated Nationals and Blocked Persons. Being on this list means U.S. persons are prohibited from dealing with them, and any property or interests in property under U.S. jurisdiction that is in their possession or control can be blocked or frozen. This designation serves as the core mechanism for implementing sanctions across the U.S. financial system and other channels.

The other terms come from different U.S. government agencies and relate to export controls rather than OFAC sanctions. Restricted Party List, Entity List, and Denied Persons List are managed by BIS (the Bureau of Industry and Security) and involve licensing requirements and restrictions on exporting or transferring certain goods and technology. While they indicate restricted parties, they are not the OFAC designation for sanctioned individuals and entities.