![]() financial institutions receiving instructions to execute transactions involving these entities were not required to block the transactions, but were instead required to reject those instructions rather than carry them out, unless the transactions were exempt, authorized, or not prohibited by OFAC. persons were prohibited from engaging in transactions with the GOI. part 560 (the “ITR”), financial institutions and other U.S. ![]() Previously, under the Iranian Transactions Regulations, 31 C.F.R. as well as all Iranian financial institutions (whether or not they meet the definition of the GOI) are now blocked. This means that all individuals and entities that meet the definition of “Government of Iran” (“GOI”) as defined by section 7(d) of the new E.O. persons to block (i.e., freeze) all property and interests in property of the Government of Iran, including the Central Bank of Iran, and of all Iranian financial institutions, which also includes the Central Bank of Iran.
0 Comments
Leave a Reply. |