Frequently Asked Questions

… with respect to which sectors of the Iranian economy are controlled directly or indirectly by Iran’s Islamic Revolutionary Guard Corps (IRGC). Given the opaque business environment in Iran and the significant role that the IRGC plays in the Iranian economy, OFAC… Read more

… amendment primarily expands the scope of medical devices that can be exported or reexported to Iran without specific authorization. It authorizes the exportation or reexportation to Iran of all items meeting the definition of the term “medical device” as defined… Read more

… Authorization Act for Fiscal Year 2013, and provides for several new sanctions related to Iran. IFCA authorizes broad sanctions on: certain activities related to Iran’s energy, shipping, and shipbuilding sectors; the sale, supply, or transfer to or from … Read more

… Company (“NICO”), or otherwise for the purchase of petroleum or petroleum products from Iran, are only eligible for the significant reduction exception if the FFIs adhere to the … in the country with primary jurisdiction over the FFI, and do not repatriate the funds to … Read more

… 610 … E.O. 13846 defines the automotive sector of Iran as the manufacturing or assembling in Iran of light and heavy vehicles including passenger cars, trucks, buses, minibuses, pick-up … and after-market parts manufacturing relating to such vehicles. … What is… Read more

… transactions for the sale of agricultural commodities, food, medicine, or medical devices to Iran, as set out in more detail in Q&As 297 and 304 . … What are the implications of IFCA on the provision of humanitarian goods to the people of Iran? …

… corruption or other activities relating to the diversion of goods intended for the people of Iran, the transfer of goods or technologies to Iran that are likely to be used by the Government of Iran or any of its agencies or instrumentalities to… Read more

… 163 … The ITR prohibit prohibit virtually all direct or indirect transactions involving Iran or the Government of Iran by U.S. persons or with a nexus to the United States, unless otherwise authorized by OFAC or … requires U.S. persons to block all property and… Read more

… to fall within the bounds of the significant reduction exception , any funds owed to Iran as a result of the bilateral trade transaction must be credited to an “account located in … at the same FFI that facilitated the transaction for the importation of goods or services from… Read more

… person may export or reexport agricultural commodities, medicine, or medical devices to Iran under the relevant general licenses in the ITSR , provided that the items are subject to … and medical devices general license to arrange for the exportation or reexportation to … Read more