Office of Foreign Assets Control
The Office of Foreign Assets Control (OFAC) is a division of the U.S. Department of the Treasury that administers and enforces economic and trade sanctions against foreign individuals, organizations, and governments. It maintains the Specially Designated Nationals (SDN) list and implements sanctions programs targeting countries such as Russia, Iran, North Korea, and others. OFAC also oversees compliance with U.S. sanctions law and works to counter money laundering and the financing of terrorism.
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Trump announces deal for Russia to supply 300,000 tonnes of diesel to US market
On 9 October 2026, Donald Trump announced that Russia would immediately supply 300,000 tonnes of diesel fuel to American and world markets under a deal with Vladimir Putin reached during a phone call. On the same day, the US Treasury's Office of Foreign Assets Control (OFAC) issued General License 135, authorizing specified transactions involving Russian diesel through 7 April 2027. The deal was justified by Trump as a way to lower diesel prices that had risen because of a war with Iran ahead of the 3 November midterm elections; critics from both parties argued it contradicts a 2022 law banning Russian energy imports and the sanctions Trump himself signed in September.