US Treasury opens new portal that could help lift sanctions
US Treasury Secretary Scott Bessent (Photo: Getty Images)
The US Treasury Department's sanctions office has launched an online portal to submit applications for removal from blacklists or for the lifting of sanctions, according to Bloomberg.
As Bloomberg writes, on Monday, the US Treasury Department's Office of Foreign Assets Control (OFAC) added a Reconsideration Portal to its website.
This portal allows individuals on sanctions lists to submit a request to have restrictions removed. In addition, applicants may request non-secret and non-confidential information related to the decision to impose sanctions.
Previously, individuals on sanctions lists already had the right to submit petitions for review of the decision, often involving lawyers in the process. But as OFAC explained, the new portal will simplify the petition submission process and ensure greater transparency and efficiency.
Bloomberg writes that over the past few decades, the US has significantly increased the use of sanctions as a foreign policy tool. Washington's arsenal contains thousands of restrictions that apply to individuals, companies, and countries.
At the same time, the second Trump administration promised to lift some sanctions on Iran as part of the final peace agreement and last week issued an initial authorization allowing the sale of Iranian oil.
In addition, Trump's team eased some restrictions against Russia, Venezuela, and Syria, while simultaneously imposing new restrictions on Cuba.
US sanctions
In mid-June, US President Donald Trump stated that Washington could soon reinstate oil sanctions against Russia. He explained that, against the backdrop of negotiations with Iran, the supply situation is improving.
Already on June 26, the authorized representative of the President of Ukraine for Sanctions Policy, Vladyslav Vlasyuk, stated that US oil sanctions against Russia are once again in effect.
