The US Treasury has published reports on OFAC’s licensing activities under the Trade Sanctions Reform and Export Enhancement Act 2000 for the 2nd-4th quarters of 2015 (available here). Under that legislation, OFAC processes licence applications requesting authorisation to export agricultural commodities, medicine, and medical devices to Iran and Sudan.
The reports indicate that over the reporting period the average processing time for TSRA applications increased from 71 to 88 business days, not including still unprocessed applications. 328 applications (over half of all applications filed during the reporting period) were still unprocessed at the end of the period. No licence applications were denied during the reporting period.
Maya Lester QC is a senior barrister (Queen’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. The legal directories say she is the...See profile for Maya Lester QC >