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DIRECTOR OF REGULATORY COMPLIANCE, LOGISTICS, FREEPORT, NY

Summary

Prompted by increasing prevalence and severity of cyber-attacks on both commercial and government systems, U.S President Barack Obama declared a national emergency and issued an executive order authorizing the Secretary of the Treasury, in consultation with the Attorney General and Secretary of State, to add those engaged in cyber activities that significantly harm the national security, foreign policy, economic health or financial stability of the United States to the Specially Designated Nationals (SDNs) and Blocked Persons lists. Once a party is so designated, U.S. companies are prohibited from doing business with them and must report any blocked property to the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC).

Cyber-related Sanctions: Executive Orders

  • 13694—Blocking the Property of Certain Persons Engaging in Significant Malicious Cyber-Enabled Activities (April 1, 2015)

Cyber-related Sanctions: Statutes

  • International Emergency Economic Powers Act (IEEPA), 50 U.S.C. §§ 1701-1706
  • National Emergencies Act (NEA), 50 U.S.C. §§ 1601-1651
  • 31 CFR Part 578—Cyber-Related Sanctions Regulations

Cyber-related Sanctions: Code of Federal Regulations

  • 31 CFR Part 578—Cyber-Related Sanctions Regulations

Cyber-related Sanctions: Federal Register Notices

  • 80 FR 81752-15—Issuance of Cyber-Related Sanctions Regulations to implement Executive Order 13694

Note: This information is provided for reference only.

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