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ARTICLE · 14 JANUARY 2025

OFAC Issues New Syria General License And Updates FAQs

Crowell & Moring LLP
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On January 6, 2024, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Syria General License 24, which authorizes transactions with governing institutions...

SyriaInternational Law
Anand Sithian
Anand Sithian
Erik Woodhouse
Erik Woodhouse
Dmitry Bergoltsev
Dmitry Bergoltsev
Jeremy Iloulian
Jeremy Iloulian

On January 6, 2024, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Syria General License 24, which authorizes transactions with governing institutions in Syria and certain activities related to energy and personal remittances. OFAC explained it issued General License 24 in light of the collapse of Bashar al-Assad's government and to support the Syrian people with maintaining essential services and continuity of governance functions in Syria.

 OFAC issued the general license to authorize activities that would otherwise be prohibited pursuant to the Syrian Sanctions Regulations, the Global Terrorism Sanctions Regulations, and the Foreign Terrorist Organizations Sanctions Regulations. By authorizing transactions with governing institutions in Syria, subject to some conditions and exceptions, even if a designated individual has a leadership role in that governing institution, the new GL helps address sanctions issues that would arise as a

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