PASARGAD BANK

Valiasr St., Mirdamad St., No. 430, Tehran, Iran; No. 430, Mirdamad Ave, Tehran, 19697774511, Iran

Today’s action also targets Iranian software holding company Pasargad Arian Information and Communication Technology Company (FANAP), which is owned or controlled by Pasargad bank, a major financial institution designated by OFAC for operating in the Iranian financial sector. FANAP is being designated pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Pasargad Bank.

US

Subject to Secondary Sanctions

https://home.treasury.gov/news/press-releases/sb0220

2012-07-12

US

Iranian Transactions and Sanctions Regulations, 31 CFR part 560

OFAC country specific

Iran

Other financial restrictions, Trade sanctions

• https://ofac.treasury.gov/faqs/topic/1551

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.

SDN