August 07, 2015

RPT-INSIGHT-U.S. agency overseeing sanctions faces brain drain, added work

Featuring Elizabeth Rosenberg

Source: Reuters

Aug 7 (Reuters) - As Congress considers a controversial nuclear deal with Iran, the U.S. Treasury agency charged with implementing related financial sanctions is at risk of being overwhelmed by its expanding mission, former employees and lawyers who deal with the office say.

The agency, the Office of Foreign Assets Control, is responsible for enforcing a broad array of sanctions and for licensing American companies wishing to do business with sanctioned countries. Both roles will be especially critical if some restrictions are relaxed under the proposed nuclear agreement with Iran.

But a growing reliance on sanctions to address situations as varied as Russia's incursions into Ukraine, cyber attacks on U.S. businesses, and jihadist financing has increased pressure on the agency, which is being asked to police a bigger beat while staffing and budgets have not kept up.

Read the full article at Reuters.

  • Elizabeth Rosenberg

    Senior Fellow and Director, Energy, Economics and Security Program

    Elizabeth Rosenberg is a Senior Fellow and Director of the Energy, Economics and Security Program at the Center for a New American Security. In this capacity, she publishes an...