Economic Sanctions & OFAC

Addressing Sanctions With Unwavering Resolve

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 U.S. Treasury Office of Foreign Asset Control (“OFAC”). We also advise on export control issues and CFIUS matters as they relate to business transactions, mergers and acquisitions to help ensure that pitfalls are identified and mitigated or eliminated.

These matters often require effective interfacing with various US government agencies including OFAC, the U.S. Department of State, the U.S. Department of Justice, the U.S. Department of Commerce, U.S. Attorneys’ offices and state enforcement agencies. Seiden Law staffs and partners with former U.S. government and law enforcement officials and experienced sanctions lawyers in order to provide best-in-class service while keeping costs contained. Our work has resulted in the successful navigation of these difficult issues in ground-breaking ways, setting precedents and receiving international recognition.

OFAC SDN Global Magnitsky List Removal

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. OFAC sanctions are premised on ensuring correct future conduct, not punishing prior alleged misconduct. If a designated individual or entity can show a factual or legal mistake in the designation, or demonstrate sufficient changed circumstances, it is possible to be removed. Seiden Law has the skills, experience, and expertise in conducting internal investigations to identify such mistakes and also advises and creates proposals—such as corporate restructuring, governance, accountability and or personnel changes —to include in applications for removal to OFAC. Seiden Law has successfully caused the removal of multiple individuals/entities from the SDN list.

OFAC Licensing

Individuals and companies who require authorization from OFAC to proceed with transactions often encounter difficulty with the complex license application process. OFAC licenses are not simply approved. Seiden Law’s team possesses deep knowledge of the system and specific and effective strategies that come from years of experience and make the difference between an application being denied or granted, and our groundbreaking work sets Seiden Law apart from other firms.

OFAC Enforcement

Seiden Law, working with outside experts, skillfully defends our clients in OFAC enforcement and any follow-on civil or criminal proceedings in order to successfully resolve all matters. OFAC has the legal authority to require the disclosure of sensitive and confidential information on specific transactions of our clients, and inadequate preparation or lack of expert advice may lead to severe damages and consequences, especially when many countries’ data privacy laws conflict with U.S. law. Our seasoned team is adept at internal investigations, preparation of robust responses to OFAC’s administrative requests subpoenas to protect our client’s confidentiality and privacy, and the mitigation of any penalties that may occur.

Sanctions Advisory Service

Our many years of experience with the US Treasury Office of Foreign Asset Control (OFAC) and as former prosecutors and federal agents are a valuable resource that helps our clients around the world. Seiden Law advises companies and individuals around the world on how to navigate most safely and effectively with sanctions related circumstances. Whether you are a company that needs advice on handling a commercial transaction or handling a bank transfer or a contract issue, we have the knowledge and experience to guide you through this in a manner that will balance the economic realities with the strictures of the laws. We can help you communicate with commercial partners, banks and other parties so you unknowingly don’t step on any landmines. We can help you draft sanctions policies and procedures that are fully cutting edge and up to date with the current state of the law. Sanctions rules are changing regularly, and it is vital that anyone dealing with potentially sanctioned businesses or transactions has the right advice to avoid the myriad pitfalls that exist.

Our Representative Case Work Includes:

  • Israeli war hero general and his companies sanctioned under Global Magnitisky for work in Africa, in the removal from the SDN list in less than a year.
  • A mining conglomerate in two U.S. OFAC sanctions matters where they were alleged to be tied to Russia by working with the U.S. Treasury OFAC and the U.S. State Department.
  • The Syrian Democratic Council, a Northern Eastern Syria group of mostly Kurdish Syrians aligned with the U.S., in efforts towards removal from the SDN list.
  • A large Turkish construction company regarding blacklist removal from the U.S. government related to a DFC grant and related misinformation in the media regarding sanctions violations.