What is the OFAC law?

The OFAC law is not a single act, but a set of regulations, presidential orders, and rules governing the imposition of economic and trade sanctions. OFAC operates under U.S. legislation, including the International Emergency Economic Powers Act and the Trading with the Enemy Act. These laws grant the U.S. government the authority to block assets, prohibit transactions, and restrict interaction with states, organizations, and individuals posing a threat to U.S. national security, foreign policy, or economy.