|Thursday, 08 December 2011 10:20|
In today's Federal Register, the Department of the Treasury's Office of Foreign Assets Control ("OFAC") published an amendment to the Sudanese Sanctions Regulations (31 CFR part 538).
OFAC issued two general licenses that authorize all activities and transactions relating to the petroleum and petrochemical industries in the Republic of South Sudan and related financial transactions and the transshipment of goods, technology, and services through Sudan to or from the Republic of South Sudan and related financial transactions.
In addition, OFAC also amended an existing general license to broaden its authorization with respect to the importation of certain Sudanese-origin services and to add an authorization for activities related to Sudanese persons' travel to the United States.
There are also a series of technical changes to better reflect the formation by Southern Sudan of the independent state of the Republic of South Sudan on July 9, 2011. You can download the Federal Register notice here.