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293. What will the "energy, shipping, and shipbuilding sectors of Iran" mean for the purposes of IFCA?
We anticipate that regulations to be promulgated will define "energy sector of Iran" to include activities involving the exploration, extraction, production, refinement, or liquefaction of petroleum, natural gas, or petroleum products in Iran. (See also discussion of activities involving natural gas in Q&A 297.)
We anticipate that regulations to be promulgated will define "shipping sector of Iran" to include activities involving the transportation of goods by seagoing vessels, including oil tankers and cargo vessels, flying the flag of the Islamic Republic of Iran, or owned, controlled, chartered, or operated directly or indirectly by the Government of Iran.
We anticipate that regulations to be promulgated will define "shipbuilding sector of Iran" to include activities involving the construction of seagoing vessels, including oil tankers and cargo vessels, in Iran. [08-06-18]
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).