OFAC Guidance in Response to COVID-19: OFAC Issues Guidance on Sanctions Compliance and Provision of Humanitarian Assistance and Trade to Combat COVID-19

Sullivan & Cromwell LLP - April 21, 2020

The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued two documents in recent days on separate issues relating to the COVID-19 pandemic. On April 20, 2020, OFAC encouraged persons affected by the COVID-19 pandemic to contact OFAC about concerns that they may experience delays in their ability to meet deadlines associated with OFAC-administered regulatory requirements. On April 16, 2020, OFAC noted the U.S. government’s commitment to ensuring that humanitarian assistance reaches at-risk populations through legitimate and transparent channels and summarized relevant exemptions, exceptions, and authorizations for humanitarian assistance and trade under the Cuba, Iran, North Korea, Syria, Ukraine-/Russia-related, and Venezuela sanctions administered by OFAC.