OFAC FAQ (Current) # 855 - Executive Order (E.O.) 13902, "Imposing Sanctions With Respect to Additional Sectors of Iran"

Date issued: Dec. 07 2020

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TURBOFAC Commentary (949 words)

Notes:

* [5-16-2020 Update: see discussion of the “official business” license at General Note on Exemptions and General Licenses for the “Official Business” of the U.S. Government (and/or United Nations) and Employees, Contractors, or Grantees Thereof]

* 12-21-22 update - 560.539 has been substantially expanded as of 12-21-22 - comments below do not reflect this.]
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1) Read in conjunction with FAQ # 844. In FAQ # 844, OFAC specifies that:

"non-U.S. persons do not risk exposure to U.S. secondary sanctions for engaging in transactions and activities involving the Iranian financial sector or an Iranian FI blocked pursuant to E.O. 13902 that would be authorized under the Iranian Transactions and Sanctions Regulations (ITSR) and GL L if engaged in by a U.S. person, provided such transactions and activities do not involve any person designated...