On Friday 13th January the US Treasury announced that most of the U.S. economic sanctions imposed on Sudan have been lifted, and almost all trade between the U.S. and Sudan that was previously prohibited under the Sudanese Sanctions Regulations (SSR) in 31 C.F.R. Part 538 are now authorized.
The lifting of these sanctions was as a result of Presidential Executive Order on January 13th, as well as the implementation of a new General License on 17th January by the Treasury Department’s Office of Foreign Assets Control (OFAC) in Section 538.540 of the SSR.
As a result of this news, commercial events in the Sudanese agri-commodity sector over the last wo weeks have been reacting with uncertainty due to the considerable appreciation [~20%] of the Sudanese Pound against the US Dollar, resulting in delayed quotations and offers being made to the international market. We see the situation as stabilising shortly and the normalalisation of trading to ensue within the next few weeks ..
