Frequently Asked Questions

365. What is authorized with respect to brokerage services related to exports or reexports of agricultural commodities, medicine, or medical devices to Iran?

… Iran, provided that the sale and exportation or reexportation itself is authorized by either general or specific license. … Iran, provided that the sale and exportation or reexportation itself is authorized by either general or specific … Read more

367. What is the definition of a “bioactive peptide”?

… For purposes of the relevant exclusion from the agricultural commodities general license in the Iranian Transactions and Sanctions Regulations( ITSR ), the term … For purposes of the relevant exclusion from the agricultural commodities general license in the… Read more

549. In light of the recent earthquake in Iran, how can I help the Iranian people while making sure to abide by U.S. sanctions?

… to the Iranian people, consistent with the Iran-related sanctions administered by OFAC. General License E , issued by OFAC in 2013 pursuant to the Iranian Transactions and Sanctions … of Iran in support of relief services provided by nongovernmental organizations pursuant to… Read more

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 … In general, the payment requirements under 31 CFR § 560.540… Read more

1123. In Crystallex Int’l Corp. v. Bolivarian Republic of Venezuela, 17-mc-00151 (D. Del.), the U.S. District Court for the District of Delaware has entered a Sale Procedures Order with respect to certain shares in PDV Holding (PDVH) to satisfy a U.S. district court judgment confirming an arbitral award against Venezuela. May persons participate in or comply with steps relating to a judicial sale of such shares?

… with such steps (such as serving as potential or actual credit counterparties). See also General License 42 and OFAC Frequently Asked Question (FAQ) 1125 . As recognized by the judge in the … a specific license in a future scenario. OFAC nevertheless intends… Read more

852. What did the October 27, 2020 amendment to the Cuban Assets Control Regulations (CACR) do?

… the CACR, effective November 26, 2020, to remove from the scope of certain remittance-related general authorizations any transactions involving entities or subentities identified on the State … Cuba Restricted List . Specifically, the October 27, 2020 rule amends the following… Read more

1160. What changes did the February 15, 2024 regulatory amendment to the North Korea Sanctions Regulations, 31 CFR part 510 (NKSR), make?

… OFAC, in consultation with the Department of State, amended the NKSR to modify an existing general license (GL) and add three new GLs to facilitate humanitarian-related and other … the items would be designated as EAR99 if located in the United States. Removal of dual … Read more

1163. Can I export tobacco or other luxury goods to North Korea?

… No. The general license for the exportation or reexportation of certain agricultural and medical items at … No. The general license for the exportation or reexportation of certain agricultural and medical items at …

652. Is it permissible for mutual funds and exchange traded funds (collectively, “funds”) that are U.S. persons to buy, sell, or otherwise engage in transactions related to debt, equity, or other holdings in an entity that appears on OFAC’s List of Specially Designated Nationals and Blocked Persons (SDN List), or of an entity owned 50 percent or more, individually or in the aggregate, by an individual or entity on the SDN List?

… other holdings in blocked persons and must block such holdings, unless authorized by OFAC via general or specific license. A U.S. fund that contains such blocked holdings generally is not itself considered a blocked entity, and U.S. persons may… Read more

548. Subsection 1(a)(i) of E.O. 13808 prohibits U.S. persons from dealing in new debt with a maturity of greater than 90 days of PdVSA. For purposes of E.O. 13808, does the term “PdVSA” include all PdVSA subsidiaries?

… apply to PdVSA and extend to all PdVSA subsidiaries, unless authorized by OFAC. Note that General License 2 authorizes certain activities involving specified PdVSA subsidiaries. … apply to PdVSA and extend to all PdVSA subsidiaries, unless authorized by OFAC. Note that … Read more

Frequently Asked Questions

Office of Terrorism and Financial Intelligence