OFAC extends Belarus sanctions relief for 6 months

OFAC2.jpgOFAC has issued General Licence No 2E, which extends for 6 months the sanctions relief for 9 Belarusian entities until 30 October 2018.

Subject to the restrictions set out in the licence, all transactions otherwise prohibited by Executive Order 13405 involving the 9 Belarusian entities, or any entities that are owned, individually or in the aggregate, directly or indirectly, 50% or more by one or more of the named Belarusian entities, are authorised.

US persons relying on the licence to engage in transactions involving (directly or indirectly) any of the named Belarusian entities must file a report to the US Department of State if a transaction (or series of transactions) exceeds $50,000. OFAC Notice here.

This entry was posted in Belarus, Export controls, 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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