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F.A.Q. Under section 560.215 of the ITSR, U.S.-owned or -controlled foreign entities are prohibited from knowingly engaging in any transaction, directly or indirectly, with the Government of Iran or any person subject to the jurisdiction of the Government of Iran that would be prohibited by the ITSR if engaged in by a U.S. person or in the United States. Section 560.211 of the ITSR separately prohibits transferring, paying, exporting, withdrawing, and dealing in any property and interests in property of the Government of Iran, any Iranian financial institution, and any other persons whose property and interests in property are blocked pursuant to the ITSR, unless exempt or authorized by OFAC.

Sanctions risk determination (non-sectoral) • https://ofac.treasury.gov/faqs/644

US

Iranian Transactions and Sanctions Regulations, 31 CFR part 560

OFAC country specific

Iran

The Iranian Transactions Regulations, 31 C.F.R. part 560 (the “ITR”), financial institutions and other U.S. persons were prohibited from engaging in transactions with the GOI. Under those prior rules, U.S. 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.

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