OFAC Issuing Final Rule to Amend Iran Sanctions Regulations

The Office of Foreign Assets Control is issuing a final rule to amend the Iranian Transactions and Sanctions Regulations to reflect agency licensing policies and address public inquiries, OFAC said (here). The rule will make changes related to authorized sales of agricultural commodities, medicine, and medical devices to Iran pursuant to the Trade Sanctions Reform and Export Enhancement Act of 2000, and clarifies definitions of “goods of Iranian origin” and “Iranian-origin goods,” OFAC said. The final rule will take effect Dec. 23.