On February 22, 2012, the Office of Foreign Assets Control (OFAC) issued General License No. 15 for the Syria sanctions President Obama implemented in August.
President Obama’s Executive Order No. 13582 blocked property of the Syrian government and prohibited certain transactions with respect to Syria, expanding on executive orders and sanctions that were previously issued by the Bush II Administration. The Bush Administration sanctions primarily applied to exports or reexports of U.S. origin goods or goods containing more than a de minimis U.S. content. The current Administration’s sanctions apply to a much wider scope of goods and services.
Click on the PDF link above to view the full alert.