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ARTICLE · 22 APRIL 2014

OFAC Publishes Guidance On Sanctions Relief For Iran

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The US Department of the Treasury’s Office of Foreign Assets Control published guidance relating to the provision of certain temporary sanctions relief.

United StatesInternational Law
A&O Shearman
A&O Shearman
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On 30 January 2014, the US Department of the Treasury's Office of Foreign Assets Control ("OFAC") published guidance relating to the provision of certain temporary sanctions relief in order to implement the joint plan of action reached on 24 November 2013 among the United States, the United Kingdom, France, Russia, China, and Germany (the "P5+1") and the Islamic Republic of Iran, issued on 20 January 2014. This guidance sets out how the US Department of State and the US Department of the Treasury will implement sanctions relief relating to certain activities and associated services taking place exclusively during the six-month period beginning on 20 January 2014, and ending 20 July 2014.

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