The Office of Foreign Assets Control this week published previously issued general licenses under its Global Magnitsky Sanctions Regulations and Nicaragua Sanctions Regulations. The full text of each license appears in its respective notice.
The Office of Foreign Assets Control issued new guidance this week on aid-related transactions that can be provided to Syria to help the country’s earthquake relief efforts. OFAC said it has been receiving questions from non-governmental organizations and others on how to provide aid to Syria while still complying with U.S. sanctions against the country. The guidance includes information on the Syria general license the agency issued earlier this month (see 2302100006), and addresses some frequently asked questions surrounding what activities and transactions are permitted.
The State Department’s International Traffic in Arms Regulations need “major reform” if the U.S. wants the Australia-U.K.-U.S. (AUKUS) partnership to succeed, Rajiv Shah, a fellow at the Australian Strategic Policy Institute, wrote Feb 16. AUKUS, which is aimed at allowing the three trade partners to better share sensitive defense technology, is being hindered by the ITAR, Shah said in his ASPI article, which too often “stymie[s] collaboration and innovation between allies” and provides “no obvious reduction in security risk.”
The U.K. issued two General Licenses to allow greater humanitarian relief efforts in Syria in response to the earthquakes that rocked the region, the Office of Financial Sanctions Implementation announced. The licenses, one issued by OFSI and the other by the Export Control Joint Unit, remove the need for individual license applications.
The Office of Foreign Assets Control this week published previously issued general licenses under its Venezuela sanctions regime. The full text of each license appears in the notice.
The Office of Foreign Assets Control this week published previously issued general licenses under its Russian Harmful Foreign Activities Sanctions Regulations. The full text of each license appears in the notice.
The Office of Foreign Assets Control this week published previously issued general licenses under its Global Terrorism Sanctions Regulations and two sets of licenses under its Venezuela sanctions program. The full text of each license appears in the respective notice.
The Office of Foreign Assets Control last week issued Syria-related General License 23, which authorizes through 12:01 p.m. EDT Aug. 8 all transactions related to earthquake relief efforts in Syria that would otherwise be prohibited by the Syrian Sanctions Regulations, 31 CFR part 542 (SySR). The license does not authorize importation of petroleum or petroleum products of Syrian origin into the U.S. or any transactions involving any person blocked pursuant to the SySR, other than the Syrian government. U.S. sanctions programs do not target legitimate humanitarian assistance, OFAC said.
The U.K.'s prohibition on the maritime transport of refined oil products from Russia and the provision of related services came into force Feb. 5, along with $100 and $45 price cap exceptions for oil products traded at a premium to crude and at a discount to crude, respectively. The Office of Financial Sanctions Implementation concurrently issued an updated guidance on the ban and oil price cap, which covers an overview of the ban, compliance and enforcement, exceptions and licensing, attestation with example scenarios, reporting requirements, definitions and examples of where the ban will not apply.
The Office of Foreign Assets Control updated its Russian price cap guidance last week to include information on the recently imposed cap on Russian petroleum products. The measure -- which took effect 12:01 a.m. EST on Feb. 5 -- sets a $45 per barrel cap for petroleum products that trade at a discount to crude, such as naphtha and waste oils, and a $100 per barrel cap on products that trade at a premium to crude, such as motor fuel.