OFAC has released guidance regarding the application of the Sudanese Sanctions Regulations to the new state to be formed by the secession of Southern Sudan.
This guidance was developed in response to inquiries received by the Department of the Treasury's Office of Foreign Assets Control ("OFAC") concerning the application of the Sudanese Sanctions Regulations, 31 C.F.R. Part 538 (the "SSR"), to the new state expected to be formed by the secession of Southern Sudan. In the recent referendum conducted pursuant to the Comprehensive Peace Agreement of 2005, voters in Southern Sudan elected to secede from the Republic of the Sudan. A new state is expected to be formed on July 9, 2011.