On 17 May 2017, the US Department of State announced that the US Government would renew waivers of certain sanctions necessary to continue to implement US commitments under the Joint Comprehensive Plan of Action (“JCPOA”). On the same day, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) designated additional parties for their involvement in Iran’s military and ballistic missile program.
On January 13, 2017, President Obama issued Executive Order, “Recognizing Positive Actions by the Government of Sudan and Providing for the Revocation of Certain Sudan-Related Sanctions” (“Sudan Executive Order”) to revoke in six months’ time the sanctions provisions of Executive Orders 13067 and 13412, which form the basis for US sanctions targeting Sudan, which are implemented through the Sudanese Sanctions Regulations (“SSR”). The provisions of the Sudan Executive Order that will terminate these US sanctions against Sudan will go into effect on July 12, 2017, provided the Government of Sudan continues the positive progress it has made in the past six months.
On December 23, 2016, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued a final rule amending the licensing provisions of section 560.530 of the Iranian Transactions and Sanctions Regulations, 31 C.F.R. Part 560 (“ITSR”) and making certain other amendments to the ITSR (the “Final Rule”). Section 560.530 sets forth the favorable Ag/Med licensing regime for the export/reexport of agricultural commodities, medicine, and medical devices to Iran (i.e., “Ag/Med” licenses).
On July 6, 2016, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) announced that it had added 16 new North Korean parties, including 11 individuals and 5 entities, to the Specially Designated Nationals and Blocked Persons List (“SDN List”). The Treasury Department has issued a press release related to the designations. The new SDNs include North Korea leader Kim Jong Un, other top officials of the North Korean regime, and certain North Korean government entities. The parties were designated as Specially Designated Nationals (“SDNs”) pursuant to Executive Orders 13722 and 13687 for their ties to human rights abuses in North Korea.