Improving Economic Sanctions Act of 2016

This bill establishes within the Office of Terrorism and Financial Intelligence of the Department of the Treasury an Economic Sanctions Strategy, Coordination, and Planning Group. The group shall conduct contingency planning to enable the Office of Foreign Assets Control (OFAC) to impose, monitor, and enforce a program of economic sanctions against a foreign country or entity pursuant to the International Emergency Economic Powers Act.

The group shall: (1) review OFAC economic sanctions programs to identify specific problems with such programs and general problems with U.S. economic sanctions policy, and (2) create a strategy to improve such programs and policy.

The Office of Terrorism and Financial Crimes shall coordinate the development of U.S. economic sanctions policy with the Departments of State, Defense, Justice, and Commerce; the National Security Council; and the Office of the Director of National Intelligence.