OFAC: NEW IRAN SANCTIONS, UPDATES, GENERAL LICENSE AND FAQ

On 29 October, OFAC advised that 5 individuals – 3 Iranian, an Indian and Chinese national and 11 entities have been added to its sanctions lists, including 8 entities for their involvement in the sale and purchase of Iranian petrochemical products – the AL-BILAD ISLAMIC BANK FOR INVESTMENT AND FINANCE PSC (additional aliases) and Mahmoud MADANIPOUR have been amended.  At the same time OFAC has issued General Licence M (Authorizing the Exportation of Certain Graduate Level Educational Services and Software) and new FAQ 853 on Iranian sanctions.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20201029

https://home.treasury.gov/news/press-releases/sm1168

https://home.treasury.gov/system/files/126/iran_gl_M.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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