The article below is outdated. Please refer to the following article for the latest information:
Clarification and Updated Information Regarding Iran Air Designation on the SDN List
Yesterday, the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury announced that it has added Iran Air, the largest Iranian air career, to its "Specially Designated Nationals and Blocked Persons List" (SDN List). OFAC stated that its designation of Iran Air was due to Iran Air's provision of material support, including military transport service, to Iran's Islamic Revolutionary Guard Corps.
The inclusion of Iran Air on OFAC's SDN list means that U.S. persons - United States citizens and permanent residents (anywhere in the world) and anyone who is "physically" in the United States (regardless of immigration status) - may not engage in financial and commercial dealings with Iran Air without first obtaining a specific license from OFAC.
Among other transactions, OFAC's designation means that you:
ALC recently released a Know-Your-Rights publication to provide information on the scope of the prohibited and permissible transactions involving Iran and to illustrate the numerous ways these regulations impact Iranian Americans. Copies of the guide are available online at http://www.asianlawcaucus.org/alc/publications/iranian-sanctions/.
This community alert is for education and informational purposes only, and should not be regarded as legal advice. You should consult with an attorney or with OFAC if you plan to engage in any transactions involving Iran.
About The Asian Law Caucus:
The Asian Law Caucus was founded in 1972 as the nation's first legal and civil rights Asian American organization. Recognizing that social, economic, political and racial inequalities continue to exist in the United States, ALC is committed to the pursuit of equality and justice for all sectors of our society, with a specific focus directed toward addressing the needs of low-income, immigrant and underserved Asian Americans and Pacific Islanders. The Asian Law Caucus is a member of the Asian American Center for Advancing Justice.
... Payvand News - 06/25/11 ... --