OFAC FAQ (Current) # 1207 - Syria Sanctions

Date issued: Jan. 06 2025

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TURBOFAC Commentary (105 words)

Notes:

1) On 1-6-25, OFAC issued Syria GL 24 and related FAQs FAQ # 1205, FAQ # 1206, FAQ # 1207, FAQ # 1208, FAQ # 1209, FAQ # 1210, FAQ # 1211, and FAQ # 1212. These actions were accompanied by the Press Releases entitled “U.S. Treasury Issues Additional Sanctions Relief for Syrian People”, available at https://home.treasury.gov/news/press-releases/jy2770.

2) This FAQ provides essential guidance concerning the types of transactions that qualify for GL 24. Note that the FAQ implies that “paying for services received from, Syrian governing institutions” does not trigger the “new investment” carveout to the GL. See generally comment 3(v) to Syria GL 24.