OFAC FAQ (Current) # 1221 - Syria Sanctions

Date issued: Jun. 30 2025

You've hit a wall. Sign in if you have an account, or learn more about TURBOFAC and subscription options.
TURBOFAC is a module of the compliance platform OverRuled. To learn more about OverRuled, visit www.overruled.com.

TURBOFAC Commentary (102 words)

Notes:

1) See comments to Executive Order 14312 - Providing for the Revocation of Syria Sanctions (June 30, 2025).

2) The FAQ confirms the obvious with respect to “Syrian financial institutions, including the Central Bank of Syria” (i.e. they are no longer sanctioned “provided that none of the involved parties are on the SDN List”). The FAQ is notable for the following statement, which appears to be call for U.S. banks to avoid “de-risking” with respect to Syria: “OFAC strongly encourages financial institutions to employ a risk-based sanctions compliance program and update it as appropriate in consideration of new business lines.”