The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) on Thursday said it is preparing to implement a presidential executive order that will set the stage for trade sanctions on Mali.
The West African country in recent years has become a flashpoint of terrorist activity on the continent. On July 26, President Donald Trump issued an executive order calling for blocking property of persons contributing to the destabilization of Mali.
In addition to terrorism, the Trump administration cited concerns with increased drug trafficking and human rights abuses in the landlocked country.
Such activities in Mali constitute “an unusual and extraordinary threat to national security and foreign policy of the United States,” the administration said.
OFAC’s rulemaking, which will be published in the Federal Register on Friday, is sparse on details of how the agency will implement and enforce the sanctions.
“OFAC intends to supplement these regulations with a more comprehensive set of regulations, which may include additional interpretive and definitional guidance, general licenses, and statements of licensing policy,” the agency said.
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The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
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