On January 6, 2025, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued new General License No. 24 (“GL”), which authorizes certain transactions formerly prohibited by several US sanctions programs. OFAC also issued eight new Syria Frequently Asked Questions (“FAQs”) and amended one existing FAQ, as part of its effort to ease certain trading restrictions after rebel forces toppled Syrian President Bashar al-Assad’s regime on December 8, 2024. General License No. 24 This…
On November 26, 2024, the US Commerce Departmentâs Bureau of Industry and Security (âBISâ) issued a final rule (âFinal Ruleâ) imposing new licensing requirements on exports, reexports, and transfers (in-country) to and within Pakistan of certain items identified on the Commerce Control List (âCCLâ) that are subject to the Export Administration Regulations (âEARâ). This expansion of controls is intended to address BISâ concern that certain CCL items that are not currently controlled for Pakistan have…