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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 11 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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On May 23, 2025, the Department of the Treasury&rsquo;s Office of Foreign Assets Control&nbsp;(OFAC) issued Syria <a href="https://ofac.treasury.gov/media/934306/download?inline" target="_blank" rel="noreferrer noopener">General License (GL) No. 25</a> relaxing sanctions against the Government of Syria and twenty-eight (28) previously blocked Syrian entities and persons.&nbsp;GL 25 authorizes transactions that would otherwise be prohibited under the U.S. economic sanctions on Syria, including new investment in Syria; the provision of financial and other services to Syria; and transactions related to Syrian-origin petroleum or petroleum products.&nbsp;This general license does not authorize any transactions with individuals or entities that remain on OFAC&rsquo;s Specially Designated Nationals (SDN) List or the unblocking of any blocked property. 
In a <a href="https://home.treasury.gov/news/press-releases/sb0148" target="_blank" rel="noreferrer noopener">press release</a>, Treasury stated that this was a &ldquo;first step&rdquo; in providing relief for Syria in line with President Donald Trump&rsquo;s announcement for the cessation of all sanctions on Syria. OFAC has also issued a set of <a href="https://ofac.treasury.gov/media/934311/download?inline">FAQs</a> to provide further guidance related to GL 25.
It should be noted that this General License impacts only the Syrian Sanctions Regulations under 31 C.F.R. Part 542 and under the control of OFAC.&nbsp;Certain statutory export controls and restrictions currently remain in place under the control of the Department of Commerce&rsquo;s Bureau of Industry and Security (BIS).

Treasury Relaxes U.S. Economic Sanctions on Syria

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