Prohibited Transactions

Sanctions Overview

Columbia University is prohibited from engaging in transactions with Specially Designated Nationals (SDNs) wherever they are located

“Restricted Party Screening” is used to comply with U.S. sanctions regulations.  Violations carry significant penalties.

Office of Foreign Assests Control (OFAC) administers regulations regarding sactions maintained against certain countries, industries, entities and individuals. 

There are more than 6000 entities and individual on the Specially Designated Nationals and Blocked Parties List (SDN List), which is updated frequently.

U.S. persons are prohibited from engaging in any transactions or dealings with SDNs or entities owned/controlled by SDNs

Prohibited transactions include:

• Making or receiving payments to or from SDNs

• Entering into contracts, agreements or research collaborations with SDNs

• Providing or receiving services to or from SDNs (OFAC interprets “services” broadly)

Restrictions vary amoung countries.

Important: A license must be obtained from OFAC prior to engaging in a transaction that otherwise would be prohibited.

 

See the Department of Treasury Sanctions Programs and Country Information page for current restrictions.