Office of Foreign Assets Control was created in 1950.

office foreign assets control

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.

office of foreign assests control

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.