Syria Sanctions Regulations Issued; More Comprehensive Rules to Come Later
The Treasury Department’s Office of Foreign Assets Control has issued the Syria-related Sanctions Regulations to implement Executive Order 13894 of Oct. 14, 2019. These regulations include provisions on prohibited transactions, licenses, authorizations, statements of licensing policy, penalties, reports, and procedures.
OFAC states that these regulations are being published in abbreviated form to provide immediate guidance to the public and that it intends to supplement this rule with a more comprehensive set of regulations that may include additional interpretive and definitional guidance, general licenses, and statements of licensing policy.
For more information on these regulations and the trade-related prohibitions they include, please contact Kristine Pirnia.