Frequently Asked Questions on Iran/TSRA General Licenses

Today, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued updated FAQs on Iran/TSRA General Licenses, which pertain to a final rule amending the Iranian Transactions and Sanctions Regulations (“ITSR”) by expanding an existing general license that authorizes the exportation or reexportation of food to individuals and entities in Iran to include the broader category of agricultural commodities. The rule also clarifies and adds certain definitions in OFAC regulations. Finally, the rule adds a new general license that authorizes the exportation or reexportation of certain replacement parts for certain medical devices.