Tag Archives | Office of Foreign Assets Control (OFAC)

Obama Administration allows Americans to Train Iranians

By Julian Pecquet for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The Barack Obama administration is allowing US experts to train their Iranian counterparts in a final effort to build bonds between the two countries before Donald Trump takes over as president. The Treasury Department unveiled […]

US Eases Medical, Agro Exports to Iran

The US Treasury Department said it has amended the licensing provisions of Iranian Transactions and Sanctions Regulations (ITSR) to allow the exports of medical devices and agricultural commodities to the Islamic Republic. “OFAC is adopting a final rule to amend the licensing provisions of the ITSR to expand the scope of medical devices and agricultural […]

Iran’s Mega Deal with Airbus inches closer to Finalization

By Changiz M. Varzi, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. After the United States issued a second license to Airbus to sell 106 planes to Iran on Nov. 21, the French aircraft manufacturer once again made headlines in Iranian media on Nov. 23. […]

The real reason Boeing, Airbus deals with Iran matter

By Saheb Sadeghi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Soon after the US Treasury Department granted licenses to Boeing and Airbus to sell passenger planes to Iran, Tehran welcomed the move as a fulfillment of American obligations under the nuclear deal. On Sept. 24, […]

ANZ Refuses Trade with Iran Fearing US Backlash

Australia and New Zealand Banking Group Limited (ANZ) refuses Australian customers’ transactions with Iran, fearing US Treasury’s reaction, a report said. “While there has been a lifting of some sanctions to Iran by Australian authorities, as an international bank we continue to comply with the US Department of the Treasury’s Office of Foreign Assets Control […]

Likely Delivery of Airbus Planes before 2017

Iran’s minister of roads and urban development said the first delivery of the Airbus aircraft purchased by the country is likely to be made by the end of 2016. “The first series of Airbus planes will probably arrive in Iran by the end of autumn provided that the Office of Foreign Assets Control (OFAC) (of […]

US Allows Unimpeded Foreign Flights to Iran

By John Lee. The United States has clarified that it will allow foreign carriers to fly to Iran without fear of violating U.S. sanctions. According to a report from WSJ, sanctions regulations barred U.S.-origin aircraft, even if operated by foreign carriers, from landing in Iran unless the carrier got a specific license for that flight: […]

US Congress Pushes to Block Boeing Iran Deal

US Congress voted on Thursday to add two amendments to a financial services spending bill regarding the proposed $17 billion deal by Boeing to sell commercial jets to Iran. According to Washington Times, one amendment effectively blocks the Office of Foreign Assets Control (OFAC) from issuing licenses for the deal, while a second curbs the […]

What’s keeping Foreign Money out of Iran’s Stock Exchanges?

By Navid Kalhor, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. According to the UN Conference on Trade and Development’s 2015 World Investment Report, Iran saw troubling changes in Foreign Direct Investment (FDI) in 2014. FDI inflow dropped by a third, while FDI outflow more […]

Why big Euro Banks are Reluctant to Return to Iran

By Arash Karami, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran’s largest bank is eager to resume ties with major European banks, but only smaller financial institutions have been willing to return to the Iranian market in the aftermath of a landmark nuclear deal. […]

Insurers Consider Services to Iran

The Central Insurance Company has issued a report on the situation of international communication with foreign insurance companies. According to the report, negotiations are underway between the IG international clubs and the US Department of Treasury to get permission for American reinsurers to provide insurance coverage to Iranian oil tankers. Meanwhile, a ban on the […]

Why Boeing kept Iran Dealings Under the Radar

By Saam Borhani, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Barely a week after the Jan. 16 lifting of nuclear-related sanctions on Iran, Tehran hosted its first international business summit in years. The event, sponsored by the Centre for Aviation (CAPA), brought together 400 executives […]

Europe’s Big Banks ‘Remain Wary’ of Iran

By John Lee. A week after the lifting of sanctions against Iran, The Guardian reports that major European banks are still reluctant to handle Iranian payments as they remain wary of being the first to test the reaction of US authorities. “Despite guidance issued by the US treasury aimed at reassuring Europe that it was […]