September 6, 2011 –
President Signs Executive Order to Block Property of the Government of Syria and Prohibit Certain Transactions with Respect to Syria

On August 17, 2011, President Obama signed Executive Order 13582, Blocking Property of the Government of Syria and Prohibiting Certain Transactions With Respect to Syria (“Executive Order”).

The Executive Order increases sanctions by blocking all property of the Syrian Government that is subject to US jurisdiction.  Firthermore, the Executive Order imposes additional restrictions such as prohibiting: (i) new investment in Syria by a U.S. person; (ii) the exportation, reexportation, sale or supply of any services to Syria from the United States; (iii) the importation into the United States of petroleum or petroleum products of Syrian origin; (iv) any transaction or dealing by a U.S. person relating to petroleum or petroleum products of Syrian origin; and (v) any approval, fianancing, facilitation or guarantee by a U.S. person of a tranaction by a foreign person where such transaction would be prohibited by the Executive Order.

The Executive Order is the third in a series of orders that have increasingly restricted dealings with Syria.

To read a complete copy of the Executive order on the OFAC website, click here:

http://www.treasury.gov/resource-center/sanctions/Programs/Documents/syria_eo_08182011.pdf