June 4, 2020

OFAC plans to issue Syria-related sanctions

On June 4, 2020, the US Department of Treasury’s Office of Foreign Asset Control announced its plan to issue regulations to implement Executive Order 13894 dated October 14, 2019, entitled Blocking Property and Suspending Entry of Certain Persons Contributing to the Situation in Syria, that was issued in response to Turkey’s decision to conduct a military offensive into northeast Syria that undermined efforts to defeat ISIS – an act that the US considered a threat to national security and foreign policy, and caused the US to declare a national emergency in order to address the threat.  At this time, OFAC is issuing an abbreviated form of Syria-related Sanctions Regulations, 31 CFR part 569, that it plans to supplement with a comprehensive set of guidelines, general licenses and policies in the future.  The regulations will be effective when published in the Federal Register on June 5, 2020.

OFAC Press Release | Syria-related Sanctions Regulations