October 29, 2020

OFAC amends and reissues Yemen Sanctions Regulations

On October 28, 2020, the Department of the Treasury’s Office of Foreign Assets Control announced that it amended and reissued Yemen Sanctions Regulations, 31 CFR part 552, in its entirety, to further implement Executive Order 13611, “Blocking Property of Persons Threatening the Peace, Security or Stability of Yemen” of May 16, 2012.  EO 13611 was established to target those who threaten the national security of Yemen, including attempts to prevent the peaceful transition of power or obstruct political processes that reflect the legitimate demands of the Yemeni people.  The new rule replaces the abbreviated regulations that were published on November 9, 2012, with a comprehensive set of regulations that include additional definitions, general licenses, statements of licensing policy, and other regulatory guidance for the public.  Due to the number of sections being added to the regulations, OFAC is reissuing the regulations in their entirety.

OFAC Press Release | Yemen Sanctions Regulations (Federal Register)