OFAC annual report on terrorist asset freezing

OFAC has published its annual report to Congress on terrorist assets frozen under US sanctions, which includes useful information on the nature and origin of US terrorist sanctions of different kinds. The report says that, as of 2015, $37,634,156 of assets were blocked in relation to the US Global Terrorism, Terrorism, and Foreign Terrorist Organisations sanctions programmes. This is an increase from $21,820,679 as of 2014. In the UK, HM Treasury reported last year that the sum of assets frozen under counter-terrorism sanctions as of September 2015 was £100,000 (see previous blog).

Around $2.3billion of assets have been frozen under US sanctions targeting state sponsors of terrorism, under which Iran, Sudan, and Syria are currently designated. The figure includes Cuban assets as of 31 December 2015, because it was still designated as a state sponsor of terrorism for part of 2015, and because certain assets in which Cuba or a Cuban national have an interest remain blocked.

TerrorismTerrorism United StatesUnited States

About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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