OFAC Sanctioned Countries List: What It Means for Crypto

Is there an official OFAC sanctioned country list?

No. OFAC says it does not maintain a specific list of countries with which US persons may not do business. Instead it runs sanctions programs, and each targets either a jurisdiction (a country or region) or an activity such as terrorism or drug trafficking anywhere in the world.^[1] Its Sanctions Programs and Country Information page lists those programs and says sanctions “can be either comprehensive or selective”.^[2]

So a page titled “US trade sanctions country list” or “OFAC restricted countries list” usually mixes two very different things: a handful of places under near-total bans, and dozens of countries where only named people and companies are sanctioned.

Comprehensive vs list-based sanctions: what “comprehensively sanctioned” means

• Broad jurisdiction-based (comprehensive) sanctions generally prohibit US persons from most transactions or dealings involving the whole jurisdiction, such as exporting or importing goods, services or technology.^[1]
• Government blocking sanctions block all property of a foreign government, including its agencies and the entities it owns or controls.^[1]
• List-based sanctions target named individuals and entities, for example people on the SDN list. OFAC notes that many programs carry a country’s name but use only list-based sanctions.^[3]

In short, a “comprehensively sanctioned country” is one where almost any dealing is banned by default. In a list-based program, ordinary business with the country is allowed as long as no sanctioned person is involved. OFAC also stresses that sanctioned persons can be located anywhere in the world.^[1]

Which jurisdictions OFAC sanctions comprehensively

OFAC’s FAQ 10, last updated on 26 October 2026, says the jurisdictions under broad sanctions include:^[1]

Jurisdiction	How OFAC describes it
Cuba	Broad jurisdiction-based sanctions; the government is also blocked.[1]
Iran	Broad jurisdiction-based sanctions; the government is also blocked.[1]
North Korea	Broad jurisdiction-based sanctions; the government is also blocked.[1]
Crimea region of Ukraine	Broad jurisdiction-based sanctions.[1]
So-called Donetsk and Luhansk People’s Republic regions of Ukraine	Broad jurisdiction-based sanctions.[1] They do not cover the whole Donetsk and Luhansk oblasts; OFAC says US persons may rely on vetted third-party information such as postal codes and maps to tell where the covered regions are.[4]

Which countries are not comprehensively sanctioned by OFAC

Several countries people expect to see on the list are under narrower programs:

• Russia. OFAC says Russia is not subject to the same degree of jurisdiction-based prohibitions, although certain categories of transactions are banned, including exports and imports of some goods and services.^[1]
• Venezuela. The Government of Venezuela is under government blocking sanctions, not a country-wide ban.^[1]
• Syria. From 1 July 2025 the Syria Sanctions Program is no longer in effect, under Executive Order 14312. Sanctions remain on Bashar al-Assad and certain other actors.^[5]
• Afghanistan. OFAC says it has no comprehensive sanctions on Afghanistan; the Taliban and some other groups are on the SDN list.^[6]
• Nicaragua is OFAC’s own example of a program that does not generally prohibit transactions involving the country.^[1]

Why crypto exchanges geoblock these places

OFAC says US persons’ sanctions obligations are the same whether a transaction is in crypto or in dollars.^[7] In its 2021 guidance for the virtual currency industry, it said companies with strong compliance programs should be able to use geolocation tools to identify and block IP addresses from sanctioned jurisdictions. It also suggested checking IPs against known VPN addresses and spotting improbable logins, such as the same user in the United States and then shortly after in Japan.^[8]

Two enforcement cases show what happens when exchanges skip this:

• Bittrex (October 2022). The exchange agreed to pay $24,280,829.20 for 116,421 apparent violations. Users apparently in Crimea, Cuba, Iran, Sudan and Syria made about $263 million of transactions. OFAC said Bittrex had reason to know where they were from IP and physical address data but did not screen for it. Afterwards Bittrex blocked IP addresses tied to sanctioned jurisdictions and restricted the accounts of users located there.^[9] (Sudan’s country-wide sanctions were lifted in October 2017,^[9] and Syria’s program ended in July 2025.^[5])
• Kraken (November 2022). Kraken paid $362,158.70 for 826 transactions by users who appeared to be in Iran. They had opened accounts elsewhere, then logged in and traded from Iran, because Kraken checked IPs at sign-up but did not block them on transactions.^[10]

Exchanges’ own lists are often longer than OFAC’s. Kraken, for example, says it does not serve clients or accept deposits from 14 regions, including Afghanistan, Belarus, Russia, Syria and Japan as well as Cuba, Iran, North Korea and the three Ukrainian regions.^[11] Licensing rules and other countries’ sanctions play a part, so an “exchange restricted countries” list is not the same as OFAC’s.

What happens if your IP or address points to a sanctioned region

Expect the platform to act on location data even if you are a law-abiding person who just travelled:

• Blocked sign-up or login from an IP in a sanctioned region.^[8]
• Account restrictions when your residence, ID or login history shows a sanctioned location, as Bittrex did after its case.^[9]
• Requests for documents under KYC, and possible deposit holds while the review runs.

How AML checkers flag sanctions risk

Exchanges geoblock by where you are. AML checkers look at where coins came from. A wallet screening report shows exposure to the sanctions category when funds trace back to SDN-listed addresses, such as the crypto exchange Garantex, which OFAC designated in April 2022.^[12] Exchanges with weak licensing or KYC often show up as high-risk exchange exposure. The two checks are separate: a clean IP does not make dirty coins clean, and clean coins do not unlock a blocked country. More in crypto sanctions screening and what an AML risk score means.

What to do: a quick checklist

1. Read your exchange’s restricted-regions page before you travel or move; it can be longer than OFAC’s list.
2. Don’t log in from a sanctioned region or through a VPN to hide where you are.
3. Keep your KYC address current, and answer location questions honestly through official support.
4. Check counterparties’ addresses before you receive coins. A free AML check shows sanctions exposure; compare tools on our services page.
5. Search names and addresses in OFAC’s Sanctions List Search.^[13]
6. If funds are held, keep records and follow the exchange’s process. For sanctions questions or large amounts, talk to a lawyer.

This guide explains public OFAC material; it is not legal advice. Businesses can read how exchanges build these controls on our business page.