Interpretive Guidance Concerning an Account Entitled “Central Bank of Iraq/Oil Proceeds Receipts Account” at the Federal Reserve Bank of New York

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The Treasury Department's Office of Foreign Assets Control ("OFAC") has determined that an account opened on the books of the Federal Reserve Bank of New York for the purpose of receiving proceeds of Iraqi petroleum contracts is subject to the prohibitions of Executive Order 13303 of May 22, 2003. Accordingly, any attachment, judgment, decree, lien, execution, garnishment, or other judicial process with respect to that account is prohibited and shall be deemed null and void.