What department regulates licensing of transactions involving sanctions and embargoes?

The U.S. Department of Treasury is responsible for regulating licensing of transactions involving sanctions and embargoes, primarily through its Office of Foreign Assets Control (OFAC). This department implements and enforces economic and trade sanctions against targeted countries and regimes to further U.S. national security and foreign policy interests. By issuing licenses for specific transactions that may be prohibited under these sanctions, the Department of Treasury plays a crucial role in ensuring compliance with U.S. laws regarding international trade and diplomacy.

While other departments, such as the Department of Commerce, State, and Homeland Security, have significant roles in national security and foreign policy, they do not have the direct authority over sanctions and embargoes that is vested in the Treasury. The Treasury’s responsibilities include monitoring and regulating financial transactions to prevent unlawful activities and to uphold U.S. economic policies.