OFAC Implements New Ethiopia Sanctions Program - News Summed Up

OFAC Implements New Ethiopia Sanctions Program


On November 12, 2021, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”), pursuant to Executive Order 14046, Imposing Sanctions on Certain Persons With Respect to the Humanitarian and Human Rights Crisis in Ethiopia, issued sanctions against four entities and two individuals as part of a new sanctions program in Ethiopia. OFAC issued the sanctions is in response to humanitarian and human rights crisis arising from the military conflict in Ethiopia. In addition to the initial designations, OFAC issued General License No. In addition, the FAQs confirm that OFAC’s 50% Rule does not apply to the Ethiopia Sanctions Program. Instead, the Ethiopian Sanctions Program apply only to the specific parties designated under the OFAC regulations.


Source: Ethiopian News December 03, 2021 23:44 UTC



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