345. How can U.S. companies arrange for payment from Iran for exports authorized under 31 CFR § 560.540?

In general, the payment requirements under 31 CFR § 560.540 are the same as for all other general licenses under the Iranian Transactions and Sanctions Regulations (ITSR).  Section 560.540(c) of the ITSR provides that U.S. depository institutions or U.S. registered brokers or dealers in securities may process transfers of funds from Iran or for or on behalf of a person in Iran that are in furtherance of a transaction authorized under 31 CFR § 560.540, provided the transfer is consistent with § 560.516, which does not allow debiting or crediting an Iranian account.  See 31 CFR § 560.516(a).

Date Updated: May 16, 2024