On 2 December, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) released its quarterly report on licensing activities pursuant to Section 906 of the Trade Sanctions Reform and Export Enhancement Act of 2000 (“TSRA”). The TSRA governs licence applications for the export of agricultural commodities, medicine and medical  devices to Iran and Sudan. OFAC’s report details licensing activities between January 2014 and March 2014, covering 373 licence applications. On average, OFAC found that the  average processing time for issuing TSRA licences was 46 business days for a licence issuance and 154 days for a license denial. OFAC received 339 license applications within the scope of the TSRA with respect to Iran and granted 137 of them. With respect to Sudan, OFAC received 34 applications and issued 23 licenses.

OFAC Quarterly Report – TSRA Licensing Activities