OFAC renews Belarus general licence

OFAC has renewed its authorisation of transactions with all sanctioned Belarusian entities for a further 6 months, until 31 October 2016. The renewal was made by Belarus General Licence 2A, which replaces and supersedes General Licence 2 under which the authorisation was previously granted.

The General Licence requires any US person taking advantage of the authorisations to report any such transactions, or series of transactions, in excess of $50,000 to the US Department of State no later than 30 days after their execution. No new property has been unblocked by General Licence 2A.

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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