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 (556 words)

Notes:

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 status quo ante for U.S. persons and USOOC Foreign Entities with respect to the dealings with Iranian banks that were blocked solely pursuant to EO 13599 (560.211 of the