On May 23, 2025, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Syria General License (GL) No. 25 relaxing sanctions against the Government of Syria and twenty-eight (28) previously blocked Syrian entities and persons. GL 25 authorizes transactions that would otherwise be prohibited under the U.S. economic sanctions on Syria, including new investment
OFAC Issues Syria General License Addressing Sanctions Relief for Syrian People
On January 6, 2025, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Syria General License (GL) 24 to expand authorizations for activities and transactions in Syria following the events of December 8, 2024, and the removal of Bashar al-Assad from power. The intent of the GL is to ensure that U.S.
UPDATED: OFAC Issues General License Authorizing Earthquake Relief Efforts in Syria – Provides Compliance Guidance
On February 10, 2023, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Syria General License (GL) 23 that authorizes until August 8, 2023 all transactions related to earthquake relief efforts in Syria that would otherwise be prohibited by the Syrian Sanctions Regulations under 31 C.F.R. Part 542. The GL makes clear…
BIS Announces Expedited Licensing Review for Exports to Turkey and Syria to Assist with Earthquake Relief Efforts
On February 17, 2023, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a statement indicating that it will expedite the processing of export license applications for items needed to assist in ongoing relief efforts in Turkey and Syria in response to the massive earthquake on February 6, 2023.
Turkey and Syria are…
OFAC Issues General License Authorizing Earthquake Relief Efforts in Syria
On February 10, 2023, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Syria General License (GL) 23 that authorizes until August 8, 2023 all transactions related to earthquake relief efforts in Syria that would otherwise be prohibited by the Syrian Sanctions Regulations under 31 C.F.R. Part 542. The GL makes clear…
OFAC Issues Syria General License Authorizing Certain Activities in Non-Regime Held Areas of Northeast and Northwest Syria
On May 12, 2022, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Syria General License (GL) 22, which authorizes certain transactions, including processing or transfer of funds on behalf of third-country entities, otherwise prohibited under the Syrian Sanctions Regulations (SSR) that are ordinarily incident and necessary to activities in the…
OFAC Authorizes Certain Activities in Iran, Syria and Venezuela to Respond to COVID-19 Pandemic
On June 17, 2021, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued three general licenses related to the sanctions programs of Iran (General License N), Syria (General License 21) and Venezuela (General License 39), “Authorizing Certain Activities to Respond to the Coronavirus Disease 2019 (COVID-19)…
Treasury Removes UAE from Its Antiboycott List
On April 8, 2021, the Department of the Treasury issued its most recent listing of foreign countries requiring cooperation with an international boycott. The countries on this list has been fairly static for years; however, the United Arab Emirates (UAE) has been removed due to the country’s issuance of Federal Decree-Law No. 4 of…
BIS Issues Interim Final Rule Expanding Certain Controls on Activities of U.S. Persons
On January 15, 2021, the Department of Commerce’s Bureau of Industry and Security (BIS) issued an interim final rule implementing further provisions of the Export Control Reform Act of 2018 by: (i) imposing additional export license requirements under the Export Administration Regulations (EAR) in connection with certain military-intelligence end uses and end users; (ii) clarifying…
OFAC Formally Places the Central Bank of Syria on the SDN List
On December 22, 2020, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) formally added the Central Bank of Syria (CBoS) to the Specially Designated Nationals (SDN) List. While OFAC notes that the bank is “already blocked as meeting the definition of the Government of Syria in [Executive Order] 13582 and the Syrian…