OFAC Amends WMD, Iranian Sanctions Regulations
The Office of Foreign Assets Control amended its Weapons of Mass Destruction Proliferators Sanctions Regulations and its Iranian Transactions and Sanctions Regulations, the agency said in a notice released Sept. 30. The final rule revises a note that describes how people designated under the WMD regulations for North Korea are identified in OFAC’s Specially Designated Nationals List and amends the ITSR to “refine” a general license. The rule is effective on Oct. 1.
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OFAC amended the note in the WMD regulations to explain that SDN entries will now include “additional information regarding certain risks” associated with those entries. The entries will now clarify that “engaging in certain transactions” with SDNs “may result in the imposition of secondary sanctions.” OFAC will also specify whether the entities are owned or controlled by a U.S. financial institution.
OFAC also revised a general license under the ITSR that authorizes transactions related to the “official business of several international organizations.” The general license will now authorize activities involving the “United Nations’ Specialized Agencies, Programmes, Funds, and Related Organizations,” OFAC said.