An increasing issue I am seeing with Iranian-American clients is banks in the United States closing their bank accounts. Why? Reasons can vary, but perhaps the sanctions and anti-money laundering (AML) regulations have a role in this. Indeed from national…

I’ve often joked that many people in the U.S., particularly within the Iranian-American community, engage in business with Iran with a lack of knowledge about the sanctions and in a matter as if they are dealing with a non-sanctioned country…

Many individuals who deal with sanctioned countries know there is maze of regulations  they have to navigate.  Indeed, in the simple case of money transfers there are many steps that must be undertaken to ensure the legality of a task…

The United States Senate voted today 100-0 to sanction the Central Bank of Iran (CBI) in what is deemed as a further step in ramping up pressure on Iran for its continued defiance in the light of United Nations Security…

Sunrise Technologies and Trading Corporation, a New York based business and its owner Jay Shih pleaded guilty in the District Court of the District of Columbia  to conspiracy to export high technology computer equipment to Iran through Dubai, UAE.  According…

OFAC on Tuesday issued two more general licenses with respect to Syria, specifically General License No. 11 and 12.  A brief summary of both are below: General License No. 11:  This allows for certain charitable activity related to Syria and…

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) on Friday issued four general licenses arising from its new sanctions on Syria.  These are, specifically: 1. General License No. 7  (Winding Down Contracts Involving the Government of Syria; Divestiture of…

Dubai-based Arabian Business quoted me this morning in an article on how US pressure on Dubai is affecting trade between the Emirate and Iran. Read the article here.  Arabian Business is a widely-circulated, Dubai-based publication covering business in the Middle…

Most people know that U.S. sanctions on Iran are very comprehensive.  Did you know that there are still exceptions to them?  Despite having recently had to deal with the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) himself,…