US renews Belarus general licence

The US Treasury has renewed its general licence (which authorises transactions with all entities listed on its Belarus sanctions) for 6 months, until 30 October 2017.  The renewal was made by Belarus General Licence 2C, which replaces and supersedes General Licence 2B under which the authorisation was previously granted. The EU lifted most of its sanctions on Belarus in February 2016 (see previous blog).

The General Licence requires any US person to report any such transactions, or series of transactions, in excess of $50,000 to the US Department of State no later than 30 days after their execution.  No new property has been unblocked by General Licence 2C.

This entry was posted in Belarus, USA by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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