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06/19/11

Impact of U.S. Sanctions Against Iran on You

Source: The Asian Law Caucus

The Asian Law Caucus has released a Know-Your-Rights publication on the Iranian Transactions Regulations (Iran Sanctions), which are the most relevant sanctions program in restricting commercial and financial dealings with Iran. The publication provides a general guide to the scope of the prohibited and permissible transactions under Iran Sanctions and illustrates the numerous ways these regulations impact Iranian Americans.

The Impact of U.S. Sanctions Against Iran on You
“The Impact of U.S. Sanctions Against Iran on You”
(Report in PDF format)

For a number of years, the United States has imposed sanctions against Iran for U.S. foreign policy and national security reasons. Whether or not these sanctions are an effective tool of American foreign policy, there is no question that the Iran Sanctions restrict the ability of Iranian Americans to engage in personal, family and charitable transactions in Iran.

Asian Law Caucus and national Iranian American membership organizations increasingly receive inquiries from concerned community members about the Iran Sanctions. Some want to know if and how they can sell their property in Iran, transfer their savings or retirement funds to the United States, or support their parents or other family members in Iran. Others want to provide for orphans, donate money to Iranian charities in the memory of a late loved one, or engage in other charitable deeds. Few understand the complex compliance requirements posed by the Iran Sanctions and the severe penalties, including criminal prosecution, that can be imposed for violations of these regulations. In drafting the report, ALC retained the law firm of Wilmer Cutler Pickering Hale and Dorr LLP in Washington, DC to provide pro bono consulting on the scope and application of Iran Sanctions.

Iran Sanctions are complex and present difficult compliance challenges. Even though ALC hopes that the publication provides useful information about applicable requirements to the community, it strongly advises that individuals consult with an attorney before proceeding with any actual transactions or dealings involving Iran.

Related Information:

Iran Sanctions- (U.S. Department of the Treasury
Iran Sanctions (U.S. Department of the Treasury)

 

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