Publication of Illicit Drug Trade Sanctions Regulations

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is adding regulations to implement Executive Order 14059 of December 15, 2021, “Imposing Sanctions on Foreign Persons Involved in the Global Illicit Drug Trade”. These regulations are currently available for public inspection with the Federal Register and will take effect upon publication in the Federal Register on Tuesday, December 20, 2022. OFAC intends to supplement these regulations with a more comprehensive set of regulations, which may include additional interpretive guidance and definitions, general licenses, and other regulatory provisions.