OFAC extends Belarus sanctions relief for 1 year

Today, OFAC issued General Licence No 2F, which extends for 1 year the sanctions relief for 9 Belarusian entities until 25 October 2019.

Subject to the restrictions set out in the licence, all transactions otherwise prohibited by Executive Order 13405 involving the 9 Belarusian entities, or any entities that are owned, individually or in the aggregate, directly or indirectly, 50% or more by one or more of the named Belarusian entities, are authorised.

US persons relying on the licence to engage in transactions involving (directly or indirectly) any of the named Belarusian entities must file a report to the US Department of State if a transaction, or any series of transactions, exceeds $50,000. See OFAC Notice.

BelarusBelarus United StatesUnited States

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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