The Executive Order Signed On July 30, 2012 By President Obama Expands Upon Sanctions In Section 1245 Of The Fy 2012 National Defense Authorization Act (Ndaa) To Make Sanctionable Knowingly Conducting Or Facilitating Significant Transactions With A Private Or Public Foreign Financial Institution Or Other Entity For The Purchase Or Acquisition Of Iranian Oil.
There is no definition of what constitutes a “significant” financial transaction, and the only exceptions are for transactions involving the sale of food, medicine, or medical devices to iran. Knowingly engaged in a significant transaction for the sale, supply, or transfer to or from iran, of significant goods or services used in connection with the iranian financial sector on or after jan. The following chinese firms are sanctioned under e.o.
The Us Administration Is Required Under Domestic Law, Caatsa To Impose Sanctions On Any Country That Has Significant Transactions With Iran, North Korea Or Russia.
Person to engage in transactions involving iran.5 general license h also authorized u.s. Part 561, that were issued pursuant to the iran sanctions act, as amended by the comprehensive iran sanctions, accountability and divestment act. Banking system, and therefore limited in its ability to conduct any u.s.
By Far, It Appears That Ofac Sanctioned Individuals Or Entities That Conducted A Single, Significant Transaction Least Frequently.
Naftiran intertrade company, and national iranian tanker company. Significant financial transaction ofac anticipates closely modeling the ndaa's definition of significant financial transactions based on the iranian financial sanctions regulations (ifsr), 31 c.f.r. The law includes mandatory banking sanctions targeted at foreign banks that knowingly facilitate:
Facilitation Of Certain Efforts, Activities, Or Transactions By Foreign Financial Institutions.
It is worth noting that these transactions generally exceeded millions of dollars. Transactions and accounts related to iranian's rials or iranian sovereign debt; Facilitating significant transactions or providing significant financial services for a financial institution whose property and interests in property are blocked pursuant to parts 544 or 594 of this chapter in connection with iran's proliferation of weapons of mass destruction or delivery systems for weapons of mass destruction or iran's.
(1) The Size, Number, And Frequency Of.
China concord petroleum co., limited, kunlun shipping company limited, pegasus 88 limited, and cosco shipping tanker (dalian) seaman & ship management co, ltd. 13846 for knowingly engaging in a significant transaction for the transport of oil from iran: Examples of conduct that resulted in sanctions within this category, over the last year, include: