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Sanctions

Economic or political measures taken by one country against another, or against specific individuals or entities within that country, to achieve a specific foreign policy or national security goal.

License or Waiver (from sanctions)

A special permission granted by the government to allow a transaction or activity that would otherwise be prohibited by sanctions.

Specially Designated Nationals and Blocked Persons (SDN) List

A list maintained by the U.S. Treasury Department of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries or groups. U.S. persons are generally prohibited from dealing with SDNs.

Office of Foreign Assets Control (OFAC)

A U.S. Treasury Department agency that enforces economic and trade sanctions based on U.S. foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States.

Executive Order

A directive issued by the President that manages operations of the federal government and has the force of law, but does not require congressional approval.

Rule of Construction

A legal term that explains how a particular part of a law should be interpreted and applied, often to clarify what it does not intend to change.