Director of US Office of Foreign Assets Control leaves post

Baku. 13 April. REPORT.AZ/ US Department of the Treasury today announced that John E. Smith will be leaving his position as Director of the Office of Foreign Assets Control (OFAC) in early May.

Report informs citing the Interfax.

Smith has served as OFAC’s Director/Acting Director since February 2015 and has been with OFAC for over 11 years, previously serving as its Deputy Director and as an Associate Director.

Following Smith’s departure in early May, Deputy Director Andrea M. Gacki will serve as the Acting Director of OFAC. Ms. Gacki has been with OFAC in various leadership capacities for the past decade. OFAC’s Chief Counsel Bradley Smith will serve as Acting Deputy Director.

Local media writes that the resignation of D. Smith is associated with personal reasons.

The sanctions imposed against Russia, North Korea, Venezuela, Iran, in recent years have become the main instrument of US foreign policy.

Last year, OFAC imposed a total of 16 administrative penalties amounting to $ 119.5 million for violation of sanctions. At the same time, in the record year of 2014, penalty of $ 1.2 billion was imposed.