Obtain the OFAC License Authorization needed to comply with U.S. Sanctions.
U.S. persons seeking to transact with sanctioned parties or jurisdictions may require authorization from OFAC to proceed with those transactions. Likewise, non-U.S. persons transacting in U.S.-origin goods or services in relation to sanctioned parties or jurisdictions may also require such authorization. That authorization comes in the form of a license issued by OFAC, which could be either a specific license or a general license.
Experienced OFAC attorneys can increase the likelihood of licensing application approval.
The OFAC license application process is not as simple as filling out the form on the Licensing Page of OFAC’s website. Clearly explaining the proposed transactions and presenting legal and policy arguments to OFAC in a supplemental memorandum attached to the license application may make the difference between an application being denied or being granted.
Our experienced OFAC lawyers will be able to determine at the outset whether a proposed transaction has a chance of being approved, and assist in drafting the application and supporting memorandum in such a way as to increase the likelihood of approval.
Ferrari & Associates has recently helped parties obtain OFAC licenses in the following matters:
- Obtained an OFAC license to unblock hundreds of transactions involving a foreign financial institution that were blocked due to correspondent banks’ misunderstanding of that institution’s ownership structure.
- Obtained an OFAC licenses to permit U.S. services providers to maintain and upkeep, process tax payments, and make other payments ordinarily incident and necessary to the good repair of real estate in the U.S. blocked due to an SDN’s interest, as well as to store personal property owned by an SDN.
- Obtained OFAC specific licenses on behalf of numerous multinational medical device and pharmaceutical companies to export medicine and medical devices to sanctioned jurisdictions, including Iran, Cuba, Syria, and Sudan.
- Obtained OFAC licenses to export and broker the sale of aircraft parts to Iran.
- Represented a major international shipping company in OFAC licensing matters.
- Obtained an OFAC specific license for a major U.S. insurance company to pay out a policy to parties in Iran.
- Obtained an OFAC specific license to unblock funds blocked pursuant to the Cuban Assets Control Regulations.
- Obtained an OFAC license to unblock funds blocked pursuant to the Ukraine-related/Russia sanctions program.
- Obtained OFAC licenses to import medical devices from a Russian entity blocked pursuant to Ukraine-related/Russia sanctions program.
- Represented a European airline seeking an OFAC license to unblock funds blocked pursuant to the Counter-Proliferation sanctions program.