OFAC FAQ (Current) # 612 -FAQs Regarding EO of August 6, 2018, “Reimposing Certain Sanctions With Respect to Iran” - Sanctions Relating to Iran’s Automotive Sector

Date issued: Aug. 06 2018

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TURBOFAC Commentary (417 words)

Notes:

1) FAQ is substantially similar to FAQ from 2013, archived at FAQ # 316.

This interpretive guidance is not provided anywhere else. As of 8/2019, the automotive-related sanctions have not been implemented in regulations.

2) The 2018 version of this FAQ adds the addition of the language "so long as the transaction is consistent with U.S. sanctions, including that it does not involve a sanctioned person." It is not clear whether or not OFAC means "sanctioned person" as a term or art, or in general.

The definition of "sanctioned person" at Section 16(p) of EO 13846 provides as follows:

(p) the term ‘‘sanctioned person’’ means a person that the President, or the Secretary of State or the Secretary of the Treasury pursuant to authority delegated by the President and in accordance with the terms of such...