OFAC updates Iran-related Frequently Asked Questions
On 27 November 2019 the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) amended two previously existing Iran-related Frequently Asked Questions (FAQs). Amended FAQ 303 addresses insurance activities that are subject to sanctions under the Iran Freedom and Counter-Proliferation Act of 2012 (IFCA); amended FAQ 804 addresses sanctions pertaining to COSCO Shipping Tanker (Dalian) Co. and COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co. Furthermore, OFAC published three new Iran-related FAQs. Please follow this link to read the OFAC announcement.