OFAC issues Central Bank of Iran-related general license and FAQs simultaneously with formalization

On 27th February 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License No. 8 “Authorizing Certain Humanitarian Trade Transactions Involving the Central Bank of Iran” and related Frequently Asked Questions (FAQs). This recent action by OFAC is in conjunction with the finalization of Swiss Humanitarian Trade Arrangement (SHTA) terms; the SHTA also became fully operational on 27th February 2020.