The Office of Foreign Assets Control (OFAC) does not maintain a specific list of countries that U.S. persons cannot do business with.
U.S. sanctions programs vary in scope. Some are broad-based and oriented geographically (i.e. Cuba, Iran). Others are “targeted” (i.e. counter-terrorism, counter-narcotics) and focus on specific individuals and entities. These programs may encompass broad prohibitions at the country level as well as targeted sanctions. Due to the diversity among sanctions, we advise visiting the “Sanctions Programs and Country Information” page for information on a specific program.
Many individuals and entities often move internationally and end up in locations where they would be least expected. Accordingly, U.S. persons are prohibited from dealing with SDNs regardless of location and all SDN assets are blocked. Entities that an SDN owns (defined as a direct or indirect ownership interest of 50% or more) are also blocked, regardless of whether that entity is separately named on the SDN List.
Because OFAC's programs are dynamic, it is very important to check OFAC's website regularly. Ensuring that your sanctions lists are current and you have complete information regarding the latest relevant program restrictions is both a best practice and a critical part of your due diligence responsibility.