OFAC Issues Quarterly Report of TSRA Licensing Activities
10/15/09 12:14 PM
On
October 15, 2009, the U.S. Treasury's Office of
Foreign Assets Control (OFAC) issued its
quarterly report of licensing
activities pursuant to
Section 906(b) of the Trade Sanctions Reform and
Export Enhancement Act of 2000 (TSRA) covering
licensing activities undertaken by OFAC from
April to June 2009.
The report sets forth the number of license applications, licenses issued, license amendments issues, and applications denied by agricultural commodities, medicine, or medical devices categories, as well as by country (i.e., Iran or Sudan). The average processing time was as follows:
The report sets forth the number of license applications, licenses issued, license amendments issues, and applications denied by agricultural commodities, medicine, or medical devices categories, as well as by country (i.e., Iran or Sudan). The average processing time was as follows:
- Denial Letters - 116 days
- Licenses - 60 days
- Return Without Action (RWA) Letters - 16 days
- Overall - 49 days