OFAC Issues Regulations for Sanctions Stemming From Election Interference

The Treasury's Office of Foreign Assets Control is issuing regulations for sanctions surrounding foreign interference in U.S. elections, according to an April 26 notice. The regulations require the director of national intelligence to investigate any information that points to the possibility of foreign interference within 45 days after the conclusion of U.S. elections and recommend “remedial actions” for the U.S. government to take, other than sanctions. The regulations also list provisions for sanctioning those involved in election interference, including blocking any U.S.-related “property and interest.”

The Treasury secretary and secretary of State will also “jointly prepare a recommendation” for any additional sanctions on “the largest business entities licensed or domiciled in a country whose government authorized, directed, sponsored, or supported election interference,” including sanctioning at least one entity each from the country’s “financial services, defense, energy, technology, and transportation” sectors. Sanctions may also include restrictions on export licenses and loans or credits from U.S. banks, the regulations say. All sanctioned individuals would not be allowed into the U.S., according to the regulations.

OFAC plans to publish more regulations regarding sanctions for election interference, including additional definitions guidance, general licenses and statements of licensing policy, it said.