U.S. Department of the Treasury's Office of Foreign Assets Control Amends Iranian Transactions and Sanctions Regulations

Summary

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is updating the Iranian Transactions and Sanctions Regulations to reflect the re-imposition of sanctions on Iran, following the President's decision to withdraw from the Joint Comprehensive Plan of Action (JCPOA) in May 2018, and to authorize U.S. persons to sell personal property in Iran and transfer the proceeds to the United States.