News
The U.S. Treasury, Office of Foreign Asset Controls (OFAC), has published its fourth quarter fiscal year (FY) report for 2009 on export licensing activities under the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA). According to Section 906 (b) of TSRA, OFAC is required to submit quarterly reports on any export-related activities initiated under the Act.
From July 1 through September 30, 2009, OFAC's Licensing Division received 373 license applications. Processed applications, 187 were for medical devices, 148 for agricultural commodities, and 38 were for medicines.
Of the 373 processed license applications received for fourth quarter of FY 2009, 344 of them (92 percent) were for Iran and 29 applications were for Sudan.
For the fourth quarter of FY 2009, OFAC granted a total of 237 licenses, 36 license amendments, 31 return without action (RWA) letters, and six denial letters. Approximately 95 percent of all licenses issued were for Iran.
Overall, average processing time for license applications, license amendments, and RWA letters during the quarter was 57 days
[Back to List]