Iran General License L - Authorizing Certain Transactions Involving Iranian Financial Institutions Blocked Pursuant to Executive Order 13902

Date issued: Oct. 08 2020

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TURBOFAC Commentary (566 words)

Notes:

[9-29-26 Update – OFAC implemented EO 13902 into the ITSR. This GL remains in effect, but was drafted at a time when EO 13902 was not implemented in regulations]

1) Iran GL L was issued concurrent with six FAQs and a press release announcing a "sectoral determination" involving the Iranian financial sector pursuant to Sec. 1(a)(i) of EO 13902. This GL is discussed in the context of the broader action in Consolidated Comment on the Sanctioning of the Iranian Financial Sector Pursuant to E.O. 13902, General License L and Related FAQs Issued on 10-8-2020.

As discussed in the Consolidated Comment referred to above, when read in conjunction with FAQ # 842 and FAQ # 843, this GL appears aimed at preserving the