OFAC – IRAN SANCTIONS: NEW GENERAL LICENSE, UPDATED FAQ, ADDITIONAL INDIVIDUALS AND ENTITIES, PLUS 2 VESSELS, ADDED TO LISTS WITH OTHERS AMENDED

On 26 October, OFAC advised various changes to its Iran sanctions regime –

  1. New General License 8A – Authorizing Certain Humanitarian Trade Transactions Involving the Central Bank of Iran or the National Iranian Oil Company;
  2. Several FAQ amended as a consequence;
  3. 8 individuals added to SDN List;
  4. 11 entities connected to the oil or shipping sectors added to SDN List;
  5. 2 crude oil sea tankers added to SDN Lists;
  6. Amendments made to existing entries for ABADAN OIL REFINING COMPANY, NATIONAL IRANIAN OIL COMPANY and NATIONAL IRANIAN TANKER COMPANY.

The additional sanctions measures target the Iranian oil and shipping industries and key associates, including those involved in gasoline supplies to Venezuela.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20201026_33

https://home.treasury.gov/news/press-releases/sm1165

https://home.treasury.gov/system/files/126/iran_gl8a.pdf

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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