Summary of Recent Updates to U.S. Sanctions on Syria (As of January 14, 2025)
On January 6, 2025, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Syria General License (GL) 24, introducing significant modifications to the sanctions regime against Syria. This development follows the ousting of Bashar al-Assad on December 8, 2024, and aims to support the Syrian people's transition by ensuring that U.S. sanctions do not impede essential services or humanitarian assistance.
Key Provisions of Syria General License 24:
Authorization Period: GL 24 is effective for six months, during which certain transactions with Syrian governing institutions are permitted. This temporary measure allows the U.S. government to monitor the evolving situation on the ground.
Permitted Transactions: The license authorizes activities involving Syrian governing institutions, including departments, agencies, and public service providers at federal, regional, and local levels. This encompasses transactions necessary for the provision of electricity, energy, water, sanitation, and other essential services.
Energy Sector Involvement: Transactions supporting the sale, supply, storage, or donation of energy, including petroleum and electricity, to or within Syria are potentially authorized. This measure addresses Syria's severe power shortages, where state-supplied electricity has been limited to just two or three hours per day in most areas.
Exclusions: The license does not unblock property or interests of individuals previously designated under U.S. sanctions, such as Assad and his associates, the Government of Syria, the Central Bank of Syria, or Hay’at Tahrir al-Sham (HTS). Additionally, transactions involving Syrian military or intelligence agencies remain prohibited.
Implications for Compliance:
While GL 24 provides temporary relief to facilitate humanitarian efforts and the continuity of essential services, it does not constitute a comprehensive lifting of sanctions. Entities engaging in authorized transactions must ensure strict compliance with the terms of the license and remain vigilant against dealings with blocked persons or prohibited sectors.
Conclusion:
Navigating the complexities of U.S. sanctions law, particularly in the context of recent developments in Syria can be challenging. Triangle Legal is dedicated to assisting clients in understanding and complying with these evolving regulations. Our team of experienced attorneys is ready to provide tailored guidance to ensure your operations align with current legal requirements.
Contact Triangle Legal Today:
Ensure your compliance with the latest U.S. sanctions on Syria by consulting with our knowledgeable legal professionals. Contact Triangle Legal to schedule a consultation and stay ahead in a rapidly changing legal landscape. Give us a call or text at (919) 590-3647, our experienced attorneys at Triangle Legal are here to help.
Disclaimer: This article was prepared by Triangle Legal for educational purposes only and is not intended to be a comprehensive statement of the law or legal advice. Federal regulations may change frequently and could affect the information in this article.