The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) today released for publication in the Federal Register a final rule relating to sanctions imposed with respect to transactions with Iran.
The final rule [PDF 409 KB] reflects a decision by the U.S. administration to cease participating in the Joint Comprehensive Plan of Action and to reimpose sanctions and to change certain sanctions lists maintained by OFAC.
The final rule also reflects that OFAC is amending an existing general license in the Iranian sanctions that authorizes U.S. persons to sell personal property in Iran and transfer the proceeds to the United States.
The final rule is effective November 5, 2018—the scheduled date of the final rule’s publication in the Federal Register.
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