GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
In response to the Venezuelan economic, political, and humanitarian crises, the U.S. government has imposed sanctions on Venezuela's state oil company, government, and central bank, among others.
Foreign partners buy billions of dollars of defense items and services annually through the U.S. Foreign Military Sales program. DOD collects a transportation fee from buyers to cover shipping costs and pay shipping expenses.
Some criminal and terrorist organizations use trade-based money laundering to disguise illicit proceeds and fund their operations. These kinds of schemes can rely on misrepresenting the price, quantity, or type of goods in trade transactions.
The United States has increasingly used sanctions—such as freezing assets under U.S. control—to counteract threats to U.S. interests.
We reviewed federal agencies’ roles in, and the resources they devote to, carrying out sanctions.
When foreign countries engage in activities that threaten U.S. interests, the U.S. government can impose economic sanctions. For example, the United States may prohibit certain exports or freeze a foreign entity’s U.S. assets to try to stop weapons proliferation or human rights abuses.
U.S. foreign partners buy billions of dollars of defense items and services annually through the U.S. Foreign Military Sales program. To transport the items they buy, buyers pay fees that should roughly equal what the U.S. government pays to transport the goods.
The Export-Import Bank helps finance U.S. companies' exports when private lenders are unable or unwilling to do so. The Bank is backed by the U.S. government—so taxpayers could be responsible for financial losses.
To encourage companies to maintain and expand operations in the United States, the Foreign-Trade Zones program offers a range of benefits, such as the possible reduction or elimination of customs duties on certain imported goods.
U.S. agencies partner with nonprofit organizations to deliver humanitarian assistance around the world.
Unstable or high-conflict areas, where aid is often needed, have a higher risk of financial crimes such as money laundering and terrorism financing.
U.S. foreign partners buy billions of dollars of defense equipment and services each year through the U.S. Foreign Military Sales program. The program charges fees to purchasers to cover the U.S. government's cost of operating the program.