Iran-related Designation Updates; Issuance of Iran-related General License; Publication of Iran-related Frequently Asked Questions

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Iran-related Designation Updates; Issuance of Iran-related General License; Publication of Iran-related Frequently Asked Questions

The Secretary of the Treasury, in consultation with the Secretary of State, has identified the financial sector of the Iranian economy pursuant to Executive Order (E.O.) 13902. OFAC has issued Iran General License L - Authorizing Certain Transactions Involving Iranian Financial Institutions Blocked Pursuant to E.O. 13902. In addition, OFAC has published the following Iran-related Frequently Asked Questions (FAQs) 842, 843, 844, 845, 846, and 847. FAQ 845 provides a 45-day wind-down period for non-U.S. persons engaged in previously non-sanctionable activity involving the Iranian financial sector or Iranian financial institutions that are now sanctioned pursuant to E.O. 13902.

Finally, OFAC has also updated its Specially Designated Nationals and Blocked Persons List

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