OFAC FAQ (Current) # 293 - Sanctions Relating to Iran’s Energy, Shipping, and Shipbuilding Sectors (IFCA)

Date issued: Aug. 06 2018

TURBOFAC Commentary (108 words)

Notes:

1) This appears to be the only place where OFAC has offered this interpretive guidance. It is pertinent to IFCA Sections 1244, 1245 and 1246.

2) The 2013 version of this FAQ was amended in 2018 to remove the following language: "[t]wo entities previously identified or designated under Treasury authorities that are part of the shipping sector of Iran are the National Iranian Tanker Company (NITC) and the Islamic Republic of Iran Shipping Lines."

3) Unlike the secondary sanctions provisions preceding IFCA, the statutory and executive order provisions that are the subject of these FAQs have not yet been implemented in any CFR regulations (i.e. part 561).