OFAC is also expanding the scope of these general licenses by adding to the authorized legal services the initiation and conduct of legal, arbitration, or administrative proceedings before any U.S. federal, state, or local court or agency for or on behalf of persons whose property and interests in property are blocked under the GTSR or TSR. On April 19, 2021, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License No. 2G – General license with respect to entities blocked pursuant to Executive Order 13405. The OFAC website notes the temporary extension of: General License No. A general license authorizes a particular type of transaction for a class of persons without the need to apply for a license. 2G had authorized transactions with … In this action, OFAC has replaced General License No. Issuance of Belarus General License 2H. Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Alliance Steel, Inc. April 15, 2021. OFAC has issued Belarus-related General Licence 2G, which extends the expiry date of the licence until 26 April 2021, thereby continuing sanctions relief for 9 Belarusian entities. 2G, which had set forth the limited authorization to engage in certain types of transactions with these nine companies and entities of which they owned 50% or more, with General License No. 2G authorizing U.S. persons to engage in transactions involving nine companies: Belarusian Oil … For more information on this topic or to learn more about KPMG’s Trade & Customs Services, contact: Doug Zuvich The most recent general license, General License 2G, was set to expire on April 26, 2021. April 19, 2021. 2H under the Belarus Sanctions Regulations, representing a shift in the licensing policy for transactions with certain entities. On April 19, 2021, the Department of the Treasury’s Office of Foreign Assets Control ... now revoked OFAC General License No. Since October 2015, now revoked OFAC General License No. The Office of Foreign Assets Control ("OFAC") recently tightened sanctions on Belarus by revoking and replacing General License 2G with General License 2H. Enforcement Actions. A specific license is a written document issued by OFAC to a particular person or entity, authorizing a particular transaction in response to a written license application. Sanctions List Updates. On April 19, 2021, the US Treasury Department’s Office of Foreign Assets Control (OFAC) revoked Belarus General License 2G (“GL 2G”), which had generally authorized US Person participation in transactions involving nine Belarusian state-owned entities designated as Specially Designated Nations (SDNs), and entities in which they own a 50 percent or greater interest. All transactions otherwise prohibited by Executive Order 13405 involving these entities, or any entities owned, directly or indirectly, 50% or more by one or more of the named entities, are now authorised. On April 19, 2021, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) revoked Belarus General License 2G (“GL 2G”), which had generally authorized US Person participation in transactions involving nine Belarusian state-owned entities designated as Specially Designated Nations (“SDNs”), and entities in which they own a 50 percent or greater interest. On October 22, 2019, the Office of Foreign Assets Control (OFAC) issued General License No. 2G had authorized transactions with these nine companies.

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