OFAC issued a general license authorizing certain
humanitarian trade transactions with the Central Bank of Iran
("CBI") and added a related FAQ.
As
previously covered, the CBI was designated after allegedly
providing billions of dollars to the Islamic Revolutionary Guard
Corps, its Qods Force and its terrorist proxy, Hizballah.
According to OFAC, General License No. 8 authorizes certain
transactions involving the CBI under the
Iranian Transactions and Sanctions Regulations. OFAC stated
that the license does not allow for any transactions otherwise
prohibited by the
Global Terrorism Sanctions Regulations (or "GTSR"),
as amended by Executive Order 13886.
OFAC also published FAQ #821, which details the
humanitarian-related transactions involving the CBI that are
allowed under General License No. 8.
