US Treasury Issues General Licenses Related to Iran and Syria for COVID-19 Transactions

The US Department of the Treasury issued general licenses related to Iran and Syria concerning COVID-19 transactions on Thursday evening. The Treasury stated that the United States has issued additional sanctions permits and guidance allowing certain activities to respond to the coronavirus pandemic, including dealings with heavily sanctioned countries such as Iran, Syria, and Venezuela. The Treasury has released three general licenses concerning Syria, Venezuela, and Iran, along with six frequently asked questions providing guidance. This move follows President Joe Biden's national security memorandum issued on his first day in office in January, which called for his administration to review US sanctions programs to assess whether they hinder pandemic response efforts.