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ARTICLE · 04 DECEMBER 2019

OFAC Issues New And Updated FAQs On Iranian Sanctions

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OFAC issued three new FAQs and updated two existing FAQs on U.S. sanctions against Iran.

GlobalInternational Law
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OFAC issued three new FAQs and updated two existing FAQs on U.S. sanctions against Iran.

The new FAQs addressed changes made by Executive Order 13846 and General License K clarifying, respectively:

  • the ramifications of non-U.S. persons providing goods or services to non-Iranian persons sanctioned under section 3 of Executive Order 13846;
  • the types of activities that qualify as "maintenance" under General License K, authorizing the maintenance and wind-down of transactions involving COSCO Shipping Tanker (Dalian) Co., Ltd.; and
  • the conditions under which U.S. financial institutions can process transactions involving COSCO Shipping Tanker (Dalian) Co., Ltd.

OFAC also updated the FAQs regarding:

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