1. Understand the nature of sanctions
The Office of Foreign Assets Control (OFAC), under the U.S. Department of the Treasury, is responsible for administering and enforcing economic sanctions against countries, entities and individuals. These sanctions are used as a foreign policy tool to combat terrorism, drug trafficking, corruption and other activities that threaten the national security of the United States. However, for those on the sanctioned list, also known as the Specially Designated Nationals List (SDN List), there is a path to request removal. This article describes the general steps to achieve this goal.
2. Collect relevant information and documents.
To initiate the sanctions removal process, you are required to document that you are no longer engaged in activities that warranted the listing. This may include:
- Financial information demonstrating the absence of irregular activities.
- Affidavits confirming the cessation of relations with sanctioned individuals, entities or regimes.
- Evidence supporting a change in circumstances, such as the sale of a business, a change of address or compliance with international laws.
3. File a formal request with OFAC
El Departamento del Tesoro permite a las personas y entidades sancionadas presentar una petición para ser eliminados de la lista. Este proceso, conocido como «delisting request», implica enviar una solicitud formal a la OFAC. La petición debe incluir:
- A detailed explanatory letter that addresses the reasons for the sanction and explains why it no longer applies.
- Probative documents that support the arguments presented.
- Details of any corrective actions taken to comply with relevant laws and regulations.
4. Cooperate fully with OFAC
OFAC may request additional information or clarification during its evaluation. Full and timely cooperation is crucial to demonstrate good faith. In addition, responding clearly and accurately to any agency request can expedite the review process.
5. Hire specialized legal advisors
The process of removing sanctions can be complex and technical, especially when it comes to interpreting regulations and demonstrating compliance. Having the support of lawyers specialized in international sanctions and OFAC proceedings can make a significant difference. Appropriate legal counsel will help structure the petition, present the relevant legal arguments and ensure compliance with formal requirements.
6. Monitor the progress of the application
OFAC's evaluation of applications can take time. It is important to continually monitor the status of the case and be prepared to provide additional documentation if necessary. Maintaining open communication with the agency and, when possible, requesting updates on progress helps ensure that the case does not fall behind.
7. Legal alternatives and licenses
In some cases, while awaiting the removal of sanctions, it is possible to apply for a specific license from OFAC. These licenses allow for certain transactions that would be prohibited under the sanctions. Evaluating this option with the assistance of an attorney may be beneficial to mitigate the economic effects of the sanctions while the case is pending.
Conclusion
Removing OFAC sanctions is a process that requires legal understanding, proper documentation and a strategic approach. Although it can be a challenging path, compliance with established requirements and cooperation with the authorities are critical to achieving removal from the sanctioned list.
At Venfort LawyersWe have the experience necessary to guide our clients through this process, ensuring professional and effective representation to regain their financial freedom and protect their interests.
