A sanction is a penalty for disobeying a law or rule. In international trade, a sanction may be placed on an entity to forbid others from conducting business with said entity. The U.S. Office of Foreign Assets Control (OFAC) manages a wide range of sanctions programs but has consolidated listed entities and individuals onto their Specially Designated Nationals and Blocked Persons (SDN) List. OFAC has authority over any transactions with a strong U.S. nexus, such as the use of a U.S. bank or the trade of goods that were handled in the U.S. at any point of the supply chain. Entities and individuals can be sanctioned to a variety of degrees depending on which program is relevant to their offense.
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