Frequently Asked Questions

103 … OFAC recognizes that U.S. insurers and reinsurers often compete in international markets where non-U.S. insurers are willing and able to issue global insurance policies without an exclusion that applies to U.S. sanctions, or where such clauses may be prohibited under local law. In cases where… Read more

345 … 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… Read more

691 … If a non-Iranian vessel is transporting sanctionable goods to or from Iran (including, but not limited to, petroleum, petroleum products, or petrochemical products from Iran; goods used in connection with the automotive sector of Iran; or iron, iron products, aluminum, aluminum products,… Read more

692 … Section 1244(d)(1) of IFCA makes sanctionable knowingly selling, supplying, or transferring to or from Iran significant goods or services used in connection with Iran’s energy, shipping, or shipbuilding sectors. (See FAQ 289 above for an interpretation of “significant.”) The provision of… Read more

297 … The following transactions are excepted from the provisions of section 1244 of IFCA . a. Transactions for the sale of agricultural commodities, food, medicine, or medical devices to Iran or for the provision of humanitarian assistance to the people of Iran. b. The export of petroleum or… Read more

346 … Due diligence programs should be tailored to the particular risks encountered by exporters.  As a general matter, companies selling fee-based services, software, or hardware authorized by 31 CFR § 560.540 should undertake reasonable, risk-based measures designed to ensure that they do not… Read more

315 … Any company involved in loading or unloading cargo in Iran should exercise great caution to avoid engaging in transactions with entities designated by the United States, including the Tidewater Middle East Co. which was designated for its involvement in Iran’s proliferation of weapons of mass… Read more

298 … For purposes of IFCA , we anticipate that regulations to be promulgated will define graphite, raw or semi-finished metals described in section 1245(d) of IFCA to include steels; aluminum metal and its alloys; base metals of single or complex borides of titanium; beryllium metal and its alloys… Read more

347 … U.S. sanctions on Iran do not impose any restrictions as to the use of the Farsi language. See FAQ 337 . Date Updated: May 16, 2024 … Are there any restrictions as to the use of the Farsi language in authorized advertising or …

299 … For purposes of IFCA , we anticipate that regulations to be promulgated will define the term “precious metals” to include silver (including silver plated with gold or platinum, unwrought or in semi-manufactured forms, or in powder form); gold (including gold plated with platinum, unwrought or… Read more