The United States Department of Treasury Office of Foreign Assets Control (“OFAC”) has amended the Belarus Sanctions General License No. 1-A. This amendment allows for transactions to be authorized with certain blocked persons in Belarus.
The amendment officially authorizes all transactions between U.S. persons and Lakokraska OAO and/or Polotsk Steklovolokno from the period of September 4, 2008 until June 1, 2009. However, all property belonging to these entities under U.S. control remains blocked and no one is authorized to engage in transactions with other blocked persons through either one of the entitites.
To view a copy of the amendment please click the following: Belarus General License Amendment.
If you feel that you may have violated any OFAC administered regulations or seek assistance in complying with those regulations please contact the author at 202-280-6370 or by email at ferrari@ferrari-legal.com
The author of this blog is Erich C. Ferrari, an attorney in Washington, DC, who specializes in Sanctions Law and White Collar Criminal Defense. If you have any questions please email him at ferrari@ferrari-legal.com
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