Seiden Law

Economic Sanctions & OFAC (US Treasury)

An OFAC sanction could seem like the end of the road for designated individuals and entities. Global corporations, small to medium-sized companies, as well as individuals often experience disastrous consequences to their livelihoods and reputations as a result. But it doesn’t have to stay that way. Seiden Law understands that OFAC sanctions are premised on ensuring correct future conduct, not punishing prior alleged misconduct and knows how a designated individual or entity can show a factual or legal mistake in the designation or demonstrate sufficient changed circumstances for possible removal from the list. Seiden Law regularly advises a wide range of U.S. and global clientele on economic sanctions, including devising and filing applications for removal from the Specially Designated Nationals (SDN) and Global Magnitsky List, obtaining wind-down and other interim relief such as licenses to operate or conduct specific transactions during the sanctions period. An important component of our sanctions legal work takes into account that sanctions are remedial, not punitive, and so equally important for a client is to have experienced and creative trusted counsel who can conduct independent internal investigations and devise and advise on remediation efforts that will be received rapidly and credibly by the US Treasury Office of Foreign Asset Control (“OFAC”).

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