OFAC updates to Yemen, Cuba and Iran sanctions

By Sascha Matuszak

The United States Department of the Treasury Office of Foreign Assets Control (OFAC) issued amendments to sanctions frameworks imposed on Cuba and Yemen and issued a general license authorizing certain humanitarian transactions with Iran.

The sanctions regulations against Yemen[1] were issued in a hurry to “further implement Executive Order 13611 of May 16, 2012, ‘Blocking Property of Persons Threatening the Peace, Security, or Stability of Yemen.’” The amendments announced Nov. 4 are a reissuance of the regulations in their entirety and reflect the many changes and additions that needed to be made. The amendments contain “additional interpretive and definitional guidance, general licenses, statements of licensing policy, and other regulatory provisions that will provide further guidance to the public.”

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