Treasury Announces Syria Sanctions Relief With New General License

Treasury Announces Syria Sanctions Relief With New General License

The Treasury Department issued a new general license last week that it said gives "immediate" sanctions relief to Syria, "effectively lifting sanctions" on the country in the aftermath of last year's fall of the Bashar Assad regime. ...

U.S. Departments Of State And Treasury Issue Immediate Sanctions Relief For Syria. - Conventus Law

What You Need to Know  Key takeaway #1OFAC issued a general license that authorizes (1) all activity otherwise prohibited by the Syrian Sanctions Regulations, other than activity involving blocked persons, and (2) all activity with a limited list of blocked persons, including the Government of Syria.  Key takeaway #2The U.S. State Department issued a waiver of certain otherwise mandatory secondary sanctions for 180 days with respect to any act…