On August 6, 2018, U.S. President Donald Trump re-imposed certain sanctions on Iran in an Executive Order (EO), “Reimposing Certain Sanctions With Respect to Iran.” In connection with the new EO, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) published new Frequently Asked Questions (FAQs) and amended existing FAQs related to Iran.
The new EO re-imposes specific sanctions on or after August 7, 2018 or November 5, 2018, depending on the activity involved. Additionally, the new EO broadens the scope of the sanctions that were in place prior to January 16, 2016.
OFAC’s new FAQs answer questions relating to the new EO, including topics such as the scope of the EO, the effective dates, how the new EO relates to older orders, and the types of activities subject to sanctions.
The Executive Order may be found here:
The OFAC press release may be found here:
https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20180806.aspx
The OFAC FAQs may be found here:
https://www.treasury.gov/resource-center/faqs/Sanctions/Pages/faq_iran.aspx#eo_reimposing
