August 14, 2019

OFAC amends Executive Order 13871

On August 6, 2019, the Office of Foreign Assets Control of the US Department of the Treasury announced that it was amending the Iranian Financial Sanctions Regulations in order to implement Executive Order 13871, “Imposing Sanctions with Respect to the Iron, Steel, Aluminum and Copper Sectors of Iran.”  The amended EO implements the blocking sanctions described in Section 1 of the EO, and the correspondent or payable-through account sanctions established in Section 2.  The amendment also renames 31 CFR part 562, which henceforward will be known as the Iranian Sector and Human Rights Abuses Sanctions Regulations, or ISHR.  

OFAC press release | Final Rule (Federal Register)