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Finance & markets · 07/07/2003Updated: 10/17/2026 · 1 min read

Federal Reserve Bank of New York Account Subject to OFAC Prohibition

Summary

The Treasury Department's Office of Foreign Assets Control has determined that an account at the Federal Reserve Bank of New York, used to receive Iraqi petroleum contract proceeds, is subject to prohibitions under Executive Order 13303, issued on May 22, 2003, and any related judicial process is null and void.

Original source language: Federal Register — Department of the TreasuryOpen original release →

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