CRS Reviews Sanctions Authority and Enforcement

The Congressional Research Service reviewed the legal authority underpinning U.S. economic sanctions and their enforcement.

CRS explained that economic sanctions are imposed by the President through authorities granted under the International Emergency Economic Powers Act ("IEEPA") and the National Emergencies Act ("NEA"). To exercise the authority under IEEPA, the President must issue an executive order that (i) declares a national emergency under the NEA, (ii) sets out the legal bases upon which the Secretary of the Treasury or others may designate specific foreign persons who will be subject to the sanctions, and (iii) establishes the types of transactions or other prohibitions that will apply.

The CRS report cited the legal authorities responsible for enforcement of sanctions compliance including OFAC, the Department of Justice and FinCEN.

Further, the CRS outlined the scope of criminal and civil penalties available for violations of the IEEPA including (i) criminal fines and imprisonment, (ii) civil penalties up to "an amount that is twice the amount of the transaction that is the basis of the violation," and (iii) civil and criminal forfeiture.