Amendment to Iranian Transactions Regulations

OFAC amended section 560.320 of the Iranian Transactions Regulations by revising the definition of the term "Iranian accounts." This revision will allow U.S. banks to continue operating the accounts of U.S. persons who are temporarily in Iran. In addition, OFAC made conforming changes to section 560.517 and sections 560.532-560.535 by deleting the language used from the current definition of the term "Iranian accounts" and instead relying on a reference to the definition in section 560.320.