January 16, 2020

OFAC issues new Iran-related FAQs

The US Department of the Treasury’s Office of Foreign Assets Control has issued new Iran-related Frequently Asked Questions.  Specifically, OFAC has indicated that persons engaged in transactions that could be sanctioned pursuant to Executive Order 13902 involving the construction, mining, manufacturing and textiles sectors of the Iranian economy, will have 90 days to wind down these activities.  The wind-down period expires on April 9, 2020.

Iran-related FAQs | E.O.13902