OFAC Ramps Up Export License Approvals to Iran, Sudan in 2nd Quarter of FY14
The Treasury Department’s Office of Foreign Assets Control authorized a significant increase in agricultural and medical export licenses to Iran and Sudan in the second quarter of fiscal year 2014 when compared to the previous quarter's figures. OFAC approved 160…
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export licenses in the second quarter, denied five and acted in other ways on nearly 130 other applications. The agency did not hit the 100 mark in the first quarter of FY14 (see 1410270062). The vast majority of OFAC second quarter approvals, 126 in total, authorized medical device exports, with 21 agricultural approvals and 13 medicine approvals. All five denials sought medical device export authorization. Nearly 140 approvals allow exports to Iran, while the remainder were for Sudan.