OFAC puts Belarus General License 2 on a very short leash…

The last issuance of General License 2 in October 2019 was for a period of 18 months – the new one, GL 2Hj? 45 days (till June 3rd).

And reporting of transactions, single or in the aggregate, totaling more than $50,000, have to file a report within 30 days with the State Department’s Office of Eastern European Affairs.

Here’s the list of exempted entities:

• Belarusian Oil Trade House

• Belneftekhim

• Belneftekhim USA, Inc.

• Belshina OAO

• Grodno Azot OAO

• Grodno Khimvolokno OAO

• Lakokraska OAO

• Naftan OAO

• Polotsk Steklovolokno OAO

OFAC Notice

General License 2H