New OFAC General License Gives 'Sanctions Relief' to Syrian People, Treasury Says
The Office of Foreign Assets Control on Jan. 6 issued a new license authorizing certain government, energy and personal remittance-related transactions with Syria. The license, General License No. 24, was issued about a month after the Dec. 8 collapse of the country’s Bashar al-Assad regime, which had faced strict financial sanctions.
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The license authorizes certain transactions with “governing institutions in Syria” following Dec. 8 along with transactions “in support of the sale, supply, storage, or donation of energy," including petroleum products, natural gas and electricity, to or within Syria. It also authorizes transactions “ordinarily incident and necessary to processing the transfer of noncommercial, personal remittances to Syria,” including through the Central Bank of Syria.
"This action underscores the United States’ commitment to ensuring that U.S. sanctions do not impede activities to meet basic human needs, including the provision of public services or humanitarian assistance," the Treasury Department said in a news release. The agency said the license will provide "sanctions relief" for the Syrian people.
The transactions are authorized through 12:01 a.m. EDT July 7.
New FAQs issued by OFAC clarify the types of transactions that are and aren’t authorized by the license. One FAQ says the license allows certain transactions, such as customs payments, with Syrian government agencies even if those agencies are led by a sanctioned person. Another stressed that the license doesn’t authorize transactions with military or intelligence entities or anyone acting on their behalf.