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LICENSE No. IA 18173
Iranian Transactions Regulations
Executive Order 13599, "Blocking Property of the Government of Iran and Iranian Financial Institutions"
Weapons of Mass Destruction Proliferators Sanctions Regulations
LICENSE
(Granted under the authority of 50 U.S.C. §§ 1701-06, 50 U.S.C. §§ 1601 et seq., 22 U.S.C. §§ 2349aa-9, 8501-51, Executive Orders 12957, 12959, 13059, 13382, and 13599 and 31 C.F.R. Parts 501,544, and 560.)
To: Cubic Defense Systems, Inc.
9333 Balboa Avenue
San Diego, CA 92123
Attn: James R. Edwards, Esq.
1. Based upon correspondence dated December 23, 2011, and information otherwise available to the Office of Foreign Assets Control (the "Application"), the transactions and activities delineated herein are hereby authorized.
2. This License is granted upon the statements and representations made in...
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1) See related OFAC/USG amicus brief at Ministry of Def. & Support for the Armed Forces of the Islamic Republic of Iran. MODAFL prevailed in an international arbitration against the U.S. person Cubic Defense Systems, and the USG took the position that confirmation (but not enforcement) of the award by a federal court was authorized by 544.507 of the WMDPSR and 560.525(a)(5)(i) of the ITSR.
From a licensing policy perspective, it is notable, though probably not too surprising, that OFAC required payment to MODAFL to be made into a blocked account (which may have subjected it to attachment by judgment creditors of the Iranian government). Were the situation reversed,...