The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) yesterday announced a series of key revisions to the Iranian Transactions and Sanctions Regulations (the “ITSR”), one of the key bodies of regulations implementing the still far-reaching U.S.…
U.S. Sanctions Regulations Blog
Tracking Developments in U.S. and other International Sanctions Regulations
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Are Melli and Sepah ascending towards global compliance standards?
Very interesting reports emerged this long weekend about a very unique and curious “crisis” in Iranian politics. Specifically, it was reported that Bank Melli and Bank Sepah, two of Iran’s largest financial institutions, had recently rejected business related to the country’s Islamic…
What’s Holding Up Iran’s Banking?
Much has been said lately about the lack of sufficient banking channels between Iran and the rest of the world, and the spillover effects it is having on Iran’s international economic re-engagement. The Joint Comprehensive Plan of Action (JCPOA), the so-called…
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The virtual export and import
I was interviewed earlier this month by Al Jazeera Arabic on a particularly interesting issue concerning U.S. sanctions on Syria. The question was whether a Skype appearance by a Syrian government official designated on the OFAC Specially Designated Nationals (SDN) list at a Washington,…
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Discussing the Iran Deal on Al Jazeera English
I was on Al Jazeera English tonight discussing the announcement of the implementation day of the Joint Comprehensive Plan of Action (JCPOA), the nuclear deal reached between Iran and the P5+1 (United States, United Kingdom, France, China, Russia, and Germany)…
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When will the Sanctions Be Removed?
We are all waiting for the IAEA to provide its certification on Iran’s nuclear energy program, which will be the cue for the P5+1 (the United States, United Kingdom, France, China, Russia, and Germany) to begin the process of sanctions…
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How does the Nuclear Deal Affect Personal Transactions Involving Iran?
What will the recent nuclear deal between Iran and the P5+1 (U.S., UK, France, Russia, China, and Germany) mean for personal transactions by U.S. persons involving Iran?
OFAC Clarifies its Position on a Foreign Bank: What this Says about 3rd Country Actors
While email notifications from OFAC are fairly regular to those of us who practice in the field, I don’t think I’ve ever received one on a Sunday night, particularly not a Sunday night preceding a federal holiday. Tonight’s interestingly timed…
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OFAC Amends Cuba Sanctions to Expand Authorizations for US Persons
OFAC last Friday (September 18) announced certain amendments to the Cuban Assets Control Regulations, 560 CFR Part 515 (CACR) that expand the scope of activities with Cuba permissible for U.S. persons. While the bulk of the CACR remains firmly intact,…
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Farhad Alavi Discussing the Iran Nuclear Deal on BBC Persian
I was on BBC Persian on Thursday, September 17, 2015 discussing the Iran nuclear deal and the phase in of sanction relief. The interview was in Persian (Farsi).
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