Enforcement Release - An Unnamed Individual (18)

Date issued: Dec. 08 2021

You've hit a wall. Sign in if you have an account, learn more about TURBOFAC and subscription options, or purchase access to the text of the document on this page, the native .pdf file, and the associated TURBOFAC original commentary.
TURBOFAC is a module of the compliance platform OverRuled. To learn more about OverRuled, visit www.overruled.com.

TURBOFAC Commentary (915 words)

Notes:

1) BASES FOR LIABILITY; RECEIPT OF PAYMENTS FROM A THIRD COUNTRY AS AN “EXPORTATION” OF A FINANCIAL SERVICE

Any “dealing” related to “Iranian origin goods” is prohibited for U.S. persons, even where those goods are located in and not otherwise connected to a transaction involving a U.S. person. Compare ZAG IP, LLC, which also pertained to a dealing related to “Iranian origin clinker” located in a third country. The facilitation of a dealing in such goods—even where no Iranian person is involved in the transaction—violates 560.206 and 560.208 (facilitation) of the ITSR.

In this case, there were also violations of 560.204 (“exporting financial services to a company in Iran”), because the U.S. person individual engaged in financial transactions for the benefit of a person (the Iranian...