Executive Order 13599 - Blocking Property of the Government of Iran and Iranian Financial Institutions (February 5, 2012)

Date issued: Feb. 05 2012

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TURBOFAC Commentary (576 words)


1) EO 13599 is the fifth of six EOs [1] that inform the prohibitions and scope of the ITSR. It is implemented in the ITSR by 560.211 (Prohibited transactions involving blocked property).

2) Refer generally to 560.211, and comments thereto, for discussion on the scope and operation of the prohibitions enacted by this EO.

3) See FAQ 160 et seq, concerning this EO in particular.

4) Section 4(b) of this EO provides that:

"[t]he prohibitions in section 1 of this order do not apply to property and interests in property of the Government of Iran that were blocked pursuant to Executive Order 12170 of November 14, 1979, and thereafter made subject to...