How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ely Your Own Question
Ely
Ely, Counselor at Law
Category: Legal
Satisfied Customers: 99981
Experience:  Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
7286322
Type Your Legal Question Here...
Ely is online now
A new question is answered every 9 seconds

As I understand it, OFAC dictates that US companies

Customer Question

Hello,As I understand it, OFAC dictates that US companies are banned from doing business with certain countries that are sanctioned. At this point, I have gone through the US treasury websites but I can't actually pinpoint the exact countries that we are "banned" fully from doing business with.Would you be able to provide me with a list of actual countries that we (as an online cloud service company) would not have to do business with completely? I seem to remember Syria, Cuba, Iran, etc.I understand this is a bit more involved and will tip for your time.
Submitted: 7 months ago.
Category: Legal
Expert:  Ely replied 7 months ago.
Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms. USA does have trade restrictions with certain countries, and every trade restriction for every country is different. (Trade restrictions are also called/generalized as sanctions, or embargoes.) Also since diplomacy is ever evolving and facts change, so do the embargoes. As of this question: CUBA - commerce is forbidden except medicine, tourism, food, and travel. However due to warming relations, this is expected to change soon.IRAN - near total stop to tradeLEBANON - lots of trade forbiddenSYRIA - near total stop to tradeNORTH KOREA - no commerce allowedLYBIA - no commerce allowed for most partSUDAN - no commerce allowed for most partSOMALIA - no commerce allowed for most partMYANMAR - trade severely restricted For all intents and purposes, the countries listed above have such trade restrictions on them so as to render them for the most part "sanctioned 100%." See more complete laws and a list of partially embargoes/sactioned countries, see here:https://www.treasury.gov/resource-center/sanctions/Programs/Pages/Programs.aspx I hope this helps and clarifies. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how experts get credit for our time. Rating my answer the bottom two faces/stars (or failing to submit the rating) does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith with a positive rating.