Is Iran an OFAC sanctioned country?

Currently, sanctioned countries include the Balkans, Belarus, Burma, Cote D’Ivoire (Ivory Coast), Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, and Zimbabwe.

Is Syria on OFAC list?

Further, OFAC added the Central Bank of Syria to the Specially Designated Nationals and Blocked Persons List (SDN List), underscoring its status as a blocked person, and additionally identified the property of other previous blocked persons.

Does OFAC apply to foreign companies?

U.S. persons must comply with OFAC regulations, including all U.S. citizens and permanent resident aliens regardless of where they are located, all persons and entities within the United States, all U.S. incorporated entities and their foreign branches.

Can OFAC enforce sanctions on foreign countries?

The Office of Foreign Assets Control (“OFAC”) of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities …

Why did U.S. put sanctions on Iran?

In response to Iran’s continued illicit nuclear activities, the United States and other countries have imposed unprecedented sanctions to censure Iran and prevent its further progress in prohibited nuclear activities, as well as to persuade Tehran to address the international community’s concerns about its nuclear …

Why is Iran under U.S. sanctions?

The US has imposed sanctions against Iran in response to the Iranian nuclear program and Iranian support for Hezbollah, Hamas, and Palestine Islamic Jihad, that are considered terrorist organizations by the US.

What are three types of OFAC sanctions?

Sanctions Programs

• Burma Sanctions.
• Cuba Sanctions.
• Cyber-related Sanctions.
• Iran Sanctions.
• North Korea Sanctions.
• Somalia Sanctions.
• Sudan, Darfur, and South Sudan-related Sanctions.
• Syria Sanctions.

What are some general licenses for the Iran Sanctions Program?

General Licenses for Iran Sanctions. What are some general licenses for the Iran sanctions program? Interviewee: One general license is for inheritances. People are allowed to inherit money or property from relatives in Iran and then transfer those inherited properties or funds to the United States.

When did OFAC issue regulations for Syria related sanctions?

On June 3, 2020, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued new Syria-Related Sanctions Regulations (the “Regulations”), effective June 5, 2020, to implement Executive Order 13894 (“EO 13894”) issued by the President on October 14, 2019 in light of Turkey’s military actions in Syria.

Are there any non-profit organizations in Syria?

OFAC General License No. 11: allows nongovernmental organizations (NGOs) to engage in not-for-profit activities in Syria in support of humanitarian projects, democracy-building, education, and non-commercial development projects directly benefiting the Syrian people.

Who is supporting the Free Syrian Army in Syria?

Military defectors then loosely organized the Free Syrian Army (FSA) and many civilian Syrians took up arms to join the opposition. Today, the FSA is still embroiled in battle with the Syrian Government’s Army, or the Syrian Arab Army (SAA). The FSA is supported by the United States, Turkey, Saudi Arabia and other Gulf countries.