BREAKING NEWS

US Treasury eases sanctions on South Sudan

By REUTERS

DECEMBER 10, 2011 04:38

WASHINGTON - The United States is easing sanctions on South Sudan to allow investment in the newly independent nation's oil sector, the Treasury Department's Office of Foreign Assets Control (OFAC) said.

OFAC issued two general licenses to implement the policy change, nearly a year after the people of Southern Sudan voted in favor of independence. That was achieved on July 9, when South Sudan seceded from the North.

"As such, (South Sudan) is no longer subject to the Sudanese Sanctions Regulations," OFAC said on Thursday.

The United States imposed comprehensive sanctions against Sudan in October 1997 in response to concerns over the government's support for terrorist groups.

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