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U.S. Imposes Sanctions on Somalia: Businesses Must Comply with OFAC Regulations

The Office of Foreign Assets Control (OFAC), a bureau within the U.S. Department of the Treasury, has implemented sanctions against Somalia to address its political and economic crisis.

What are the sanctions aimed at?

The sanctions aim to target individuals and entities responsible for the conflict in Somalia.

Compliance Requirements for Businesses

To comply with these sanctions, businesses operating in or with Somalia must be aware of OFAC’s regulations. The agency provides various resources to help companies navigate the complex legal framework surrounding the sanctions.

Key Resources

• Somalia Sanctions Brochure: A quick reference guide to OFAC’s regulations.
• Frequently Asked Questions (FAQs): Hundreds of FAQs regarding OFAC’s sanctions programs and policies.
• Interpretive Guidance: Publications such as “Guidance on the Provision of Certain Services Relating to the Requirements of U.S. Sanctions Laws” and “Licenses for Legal Fees and Costs.”

Applying for Licenses

In some cases, companies may be able to apply for a specific license from OFAC to engage in activities that would otherwise be prohibited by the sanctions. The agency provides an online application process for these licenses.

Understanding the Legal Framework

The legal framework surrounding the Somalia sanctions is complex and involves multiple authorities, including:

• Executive Orders: Such as Executive Orders 13536 and 13620.
• Public Laws: Such as the International Emergency Economic Powers Act (IEEPA) and the National Emergencies Act (NEA).
• Regulations published in the Code of Federal Regulations (CFR): Businesses must be aware of these authorities to ensure compliance with OFAC’s regulations.

Recent Developments

In recent years, the U.S. has taken several actions to impose sanctions on Somalia. These include Executive Orders 13536 and 13620, which were issued by President Barack Obama in 2010 and 2012, respectively. The U.S. Congress also passed IEEPA and NEA, providing the legal basis for OFAC’s actions.

Additional Authority

The United Nations Security Council has imposed its own sanctions on Somalia through resolutions such as UNSCR 1897. Businesses must be aware of all these authorities to ensure compliance with OFAC’s regulations and avoid penalties.

Where to Find More Information

For more information on the Somalia sanctions, businesses can visit OFAC’s website or contact the agency directly.