Belarus Sanctions Regulations Update; Release of OFAC Civil Penalties Information

On February 1, 2011, the Office of Foreign Assets Control published a final rule amending the Belarus Sanctions Regulations to revoke a general license authorizing U.S. persons to engage until May 31, 2011, in otherwise prohibited transactions with two blocked entities, Lakokraska OAO and/or Polotsk Steklovolokno OAO. The revocation of the general license is effective February 11, 2011.

OFAC Released new Civil Penalties Information on 02/01/2011.