Many have been caught by surprise by widespread anti-government protests in Iran that started in Mashhad last week ostensibly over food prices and have now engulfed the whole country, going on to their 9th straight day. The Trump administration has…
U.S. Sanctions Regulations Blog
Tracking Developments in U.S. and other International Sanctions Regulations
Blog Archives
New Revisions to OFAC’s Iran Sanctions Impact Humanitarian Exports and Flow of Goods
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.…
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…
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?
Will Iran be Open for Business Tomorrow?
There has been some news in the past few hours that the P5+1 and Iran have reached some type of breakthrough deal in their marathon negotiations over Iran’s nuclear energy program. Many do seem to be hopeful of what such…
Iran: Open for Business on November 25?
There have been many mixed signals on the current status of the nuclear negotiations between Iran and the five permanent UN Security Council members and Germany. Some say the deal is almost done, others say there may be an extension.…
US Sanctions More Iran-Related Entities
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) made a sweeping set of designations on dozens of entities related to Iranian networks on Friday (August 29). These include banks and individuals, including the following: 1. Asia…
Phase in of the Russia Sanctions Program: How it Really Impacts Business
As can be expected and as is surely the case with other firms who practice sanctions law, Russia is becoming a larger part of our every day work. Granted, the sanctions regime against Russia following the Crimea and Ukraine crises…
Billion Dollar U.S. Energy Investment in Iran?
For those of us who regularly read the headlines about Iran, there was a particularly interesting one that stuck out today – one (reported by the Tehran Times and reposted by other media) about a U.S. company in Southern California…
The New IRS Offshore Voluntary Disclosure Program and US Sanctions on Iranian Bank Accounts
The Internal Revenue Service (IRS) announced last week that it was further incentivizing the self-disclosure by U.S. taxpayers of offshore financial assets and accounts not previously reported. Specifically, the IRS modified the 2012 Overseas Voluntary Disclosure Program (OVDP) effective July…
