Case No. IA-2016-325909-1

Date issued: Feb. 27 2020

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TURBOFAC Commentary (281 words)

Notes:

1) The applicant here is a non-U.S. person, one that is evidently not “owned or controlled by a U.S. person” in a way that implicates 560.215 of the ITSR, and the proposed transaction involves the exportation of “biologic pharmaceutical medicine” to Iran. Much about the proposed transaction is redacted, but OFAC’s analysis focuses on the authorizations for the exportation of medicine to the Government of Iran by “covered persons”. OFAC’s conclusion is that “to the extent that the proposed transactions described in the Application do involve U.S. persons or transactions with a U.S. nexus (such as transactions involving a U.S. financial institution), the transactions do not appear to be within the scope of the authorization at section 560.530(a)(3) of the ITSR and specific OFAC authorization would be required.” There are two possible bases...