Recent OFAC Actions
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The Department of the Treasury’s Office of Foreign Assets Control ("OFAC") is adding a new part to the Code of Federal Regulations  to implement Executive Order 13396 of February 7, 2006, "Blocking Property of Certain Persons Contributing to the Conflict in Côte d’Ivoire."
On February 7, 2006, the President, invoking the authority of, inter alia, the International Emergency Economic Powers Act (50 U.S.C. 1701-1706) ("IEEPA") and section 5 of the United Nations Participation Act (22 U.S.C. 287c), issued Executive Order 13396 (71 FR 7389, February 10, 2006) ("E.O. 13396"), effective at 12:01 a.m. eastern standard time on February 8, 2006. In E.O. 13396, the President determined that the situation in Côte d’Ivoire, which has resulted in the massacre of large numbers of civilians, widespread human rights abuses, significant political violence and unrest, and attacks against international peacekeeping forces leading to fatalities, constitutes an unusual and extraordinary threat to the national security and foreign policy of the United States, and declared a national emergency to deal with that threat. E.O. 13396 also noted United Nations Security Council Resolution 1572 of November 15, 2004, which, inter alia, called on member states to impose an asset freeze on certain persons contributing to the conflict in Côte d’Ivoire.
The Department of the Treasury's Office of Foreign Assets Control ("OFAC") is adding a new part to the Code of Federal Regulations to carry out the purposes of Executive Order 13382 of June 28, 2005, "Blocking Property of Weapons of Mass Destruction Proliferators and Their Supporters."
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