OFAC Reports on Licensing Activities to Embargoed Countries
May 2008
OFAC has released its Quarterly Report of Licensing Activities involving the Trade Sanctions Reform and Export Enhancement Act of 2000. Of the 276 license applications received, 10 were denied, 100 were issued and 26 were amended. The overall average processing time was 67 days, most licenses took 80 days and Return Without Action letters were processed in 18 days.
OFAC claims that the increased complexity and length of the license applications joined with the scrutiny from other reviewing agencies is continuing to affect processing times, especially in this quarter.
The majority of licenses were issued for Iran for medical devices, only 29 of the 276 applications pertained to Sudan products.
The report is available at:
