What are the three types of OFAC sanctions?

OFAC applies three main types of sanctions. Comprehensive (all-encompassing) sanctions prohibit all types of transactions with the specified country or its residents (e.g., sanctions against Iran or North Korea). Sectoral sanctions target specific sectors of the economy, such as the energy sector in Russia or the financial sector in Venezuela. Targeted (personal) sanctions apply to specific individuals or entities listed in the Specially Designated Nationals (SDN) list. These sanctions can apply regardless of the individual’s nationality or location.