Office of Foreign Assets Control was created in 1950.
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The primary United States regulations controlling export
activities are the International Traffic in Arms Regulations (ITAR)
administered by the Department of State; the Export Administration
Regulations (EAR) administered by the Department of Commerce; and
the foreign asset control regulations administered by the Office of
Foreign Assets Control (OFAC) in the Department of the
Treasury.
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The Office of Foreign Assets Control, is an American federal
department that monitors and control imports and exports to and
from the USA. Their official website set out a list of all their
services and policies.