An overview of O.F.A.C. Regulations involving Sanctions against Iran 

Iranian Transactions Regulations - 31 C.F.R. Part 560

As a result of Iran’s support for international terrorism and its 

aggressive actions against non-belligerent shipping in the Persian Gulf, 

President Reagan, on October 29, 1987, issued Executive Order 

12613 imposing a new import embargo on Iranian-origin goods and 

services. Section 505 of the International Security and Development 

Cooperation Act of 1985 (“ISDCA”) was utilized as the statutory 

authority for the embargo which gave rise to the Iranian Transactions 

Regulations, Title 31, Part 560 of the U.S. Code of Federal Regulations 

(the “ITR”). 

Effective March 16, 1995, as a result of Iranian sponsorship of 

international terrorism and Iran’s active pursuit of weapons of mass 

destruction, President Clinton issued Executive Order 12957 

prohibiting U.S. involvement with petroleum development in Iran. On 

May 6, 1995, he signed Executive Order 12959, pursuant to the 

International Emergency Economic Powers Act (“IEEPA”) as well as 

the ISDCA, substantially tightening sanctions against Iran. 

On August 19, 1997, the President signed Executive Order 13059 

clarifying Executive Orders 12957 and 12959 and confirming that 

virtually all trade and investment activities with Iran by U.S. persons, 

wherever located, are prohibited. 

On March 17, 2000, the Secretary of State announced that sanctions 

against Iran would be eased to allow U.S. persons to purchase and 

import carpets and food products such as dried fruits, nuts, and caviar 

from Iran. This change was implemented through amendments to the 

ITR at the end of April 2000. 

Effective November 10, 2008, the authorization for “U-turn” transfers 

involving Iran was revoked. As of that date, U.S. depository institutions 

are no longer authorized to process transfers involving Iran that 

originate and end with non-Iranian foreign banks. Details concerning 

the revocation of the U-turn authorization and a description of currently 

permissible funds transfers can be found in the Financial Dealings with 

Iran section of this document. 

Criminal penalties for violations of the Iranian Transactions 

Regulations may result in a fine up to $1,000,000, and natural persons 

may be imprisoned for up to 20 years. Civil penalties, which are not to 

exceed the greater of $250,000 or an amount that is twice the amount 

of the transaction that is the basis of the violation with respect to which 

the penalty is imposed may also be imposed administratively. 

This fact sheet provides general information about the Iranian 

sanctions program under the Iranian Transactions Regulations, and 

incorporates sanctions imposed by Executive Orders 12957, 12959, 

and 13059. The sanctions are administered by the U.S. Treasury 

Department’s Office of Foreign Assets Control (“OFAC”). 

• IMPORTS FROM IRAN - Goods or services of Iranian origin may not 

be imported into the United States, either directly or through third 

countries, with the following exceptions: 

a) Gifts valued at $100 or less; 

b) Information or informational materials; 

c) Foodstuffs intended for human consumption that are 

classified under chapters 2-23 of the Harmonized Tariff 

Schedule of the United States; and 

d) Carpets and other textile floor coverings and carpets used as 

wall hangings that are classified under chapter 57 or heading 

9706.00.0060 of the Harmonized Tariff Schedule of the 

United States. 

U.S. persons are prohibited from providing financing for prohibited 

import transactions. There are restrictions on letter of credit 

transactions involving the Government of Iran (see FINANCIAL 

DEALINGS WITH IRAN, FINANCING PURCHASES FROM IRAN OR 

ITS GOVERNMENT, and FINANCING IRANIAN-ORIGIN 

FOODSTUFFS AND CARPETS OTHER THAN PURCHASES FROM 

IRAN OR ITS GOVERNMENT below). 

• EXPORTS TO IRAN - In general, unless licensed by OFAC, goods, 

technology (including technical data or other information subject to 

Export Administration Regulations), or services may not be exported, 

reexported, sold or supplied, directly or indirectly, from the United 

States or by a U.S. person, wherever located, to Iran or the 

Government of Iran. The ban on providing services includes any 

brokering function from the United States or by U.S. persons, wherever 

located. For example, a U.S. person, wherever located, or any person 

acting within the United States, may not broker offshore transactions 

that benefit Iran or the Government of Iran, including sales of foreign 

goods or arranging for third-country financing or guarantees. 

In general, a person may not export from the U.S. any goods, 

technology or services, if that person knows or has reason to know 

such items are intended specifically for supply, transshipment or 

reexportation to Iran. Further, such exportation is prohibited if the 

exporter knows or has reason to know the U.S. items are intended 

specifically for use in the production of, for commingling with, or for 

incorporation into goods, technology or services to be directly or 

indirectly supplied, transshipped or reexported exclusively or 

predominately to Iran or the Government of Iran. A narrow exception is 

created for the exportation from the United States or by U.S. persons 
wherever located of low-level goods or technology to third countries for 

incorporation or substantial transformation into foreign-made end 

products, provided the U.S. content is insubstantial, as defined in the 

regulations, and certain other conditions are met. 

Donations of articles intended to relieve human suffering (such as 

food, clothing, and medicine), gifts valued at $100 or less, licensed 

exports of agricultural commodities, medicine, and medical devices, 

and trade in “informational materials” are permitted. “Informational 

materials” are defined to include publications, films, posters, 

phonograph records, photographs, microfilms, microfiche, tapes, 

compact disks, CD ROMs, artworks, and news wire feeds, although 

certain Commerce Department restrictions still apply to some of those 

materials. To be considered informational material, artworks must be 

classified under chapter subheadings 9701, 9702, or 9703 of the 

Harmonized Tariff Schedule of the United States. 

With certain exceptions, foreign persons who are not U.S. persons are 

prohibited from reexporting sensitive U.S.-origin goods, technology or 

services to Iran or the Government of Iran. Foreign persons involved in 

such reexports may be placed on the U.S. Commerce Department’s 

“Export Denial Orders” list. 

U.S. persons may not approve, finance, facilitate or guarantee any 

transaction by a foreign person where that transaction by a foreign 

person would be prohibited if performed by a U.S. person or from the 

United States. 

• DEALING IN IRANIAN-ORIGIN GOODS OR SERVICES - Except as 

authorized by amendments to the ITR relating to foodstuffs and 

carpets, which were issued at the end of April 2000, U.S. persons, 

including foreign branches of U.S. depository institutions and trading 

companies, are prohibited from engaging in any transactions, including 

purchase, sale, transportation, swap, financing, or brokering 

transactions related to goods or services of Iranian origin or goods or 

services owned or controlled by the Government of Iran. 

Services provided in the United States by an Iranian national already 

resident in the United States are not considered services of Iranian 

origin. 

These prohibitions apply to transactions by United States persons in 

locations outside the United States with respect to goods or services 

which the United States person knows, or has reason to know, are of 

Iranian origin or are owned or controlled by the Government of Iran. 

U.S. persons may not import such goods or services into or export 

them from foreign locations. A U.S. person may, however, engage in 

transactions in third countries necessary to sell, dispose of, store, or 

maintain goods located in a third country which were legally acquired 

by that U.S. person prior to May 7, 1995 on the condition that the 

transactions do not result in an importation into the United States of 

goods of Iranian origin. 

• FINANCIAL DEALINGS WITH IRAN - New investments by U.S. 

persons, including commitments of funds or other assets, loans or any 

other extensions of credit, in Iran or in property (including entities) 

owned or controlled by the Government of Iran are prohibited. For your 

information, Appendix A contains a list of banks owned or controlled by 

the Government of Iran. While U.S. persons may continue to charge 

fees and accrue interest on existing Iranian loans, a specific license 

must be obtained to reschedule or otherwise extend the maturities of 

existing loans. 

Payments for licensed sales of agricultural commodities, medicine and 

medical devices must reference an appropriate OFAC license and may 

not involve a debit or credit to an account of a person in Iran or the 

Government of Iran maintained on the books of either a U.S. 

depository institution or a U.S. registered broker or dealer in securities. 

Payments for and financing of such licensed sales may be 

accomplished by cash in advance, sales on open account (provided 

the account receivable is not transferred by the person extending the 

credit), or by third-country financial institutions that are neither U.S. 

persons nor government of Iran entities. Any other arrangements must 

be specifically authorized by OFAC. U.S. depository institutions may 

advise and confirm letters of credit issued by third-country banks 

covering licensed sales of agricultural commodities, medicine and 

medical devices. 

Effective November 10, 2008, the authorization for “U-turn” transfers 

involving Iran was revoked. As of that date, U.S. depository institutions 

are no longer authorized to process such transfers, thereby precluding 

transfers designed to dollarize transactions through the U.S. financial 

system for the direct or indirect benefit of Iranian banks or other 

persons in Iran or the Government of Iran. However, U.S. depository 

institutions are permitted to handle funds transfers, through 

intermediary third-country banks, to or from Iran or for the direct or 

indirect benefit of the Government of Iran or a person in Iran, arising 

from several types of underlying transactions, including: 

a) a noncommercial family remittance; 

b) an exportation to Iran or importation from Iran of information 

and informational materials; 

c) a travel-related remittance; 

d) a payment for the shipment of a donation of articles to 

relieve human suffering; or 

e) a transaction authorized by OFAC through a specific or 

general license. 

While the Iranian Transactions Regulations do not contain any blocking 

provisions, several Iranian banks have been separately designated 

under the Nonproliferation of Weapons of Mass Destruction 

(“NPWMD”) or Specially Designated Global Terrorist (“SDGT”) 

programs for their involvement in the financing of either WMD or 

ballistic missile proliferation or of terrorism, respectively. Such banks’ 

property and interests in property that are in the United States or in the 

possession or control of U.S. persons, wherever located, are blocked. 

U.S. persons are prohibited from engaging in any transaction or 

dealing in property or interests in property of these designated Iranian 

banks. Please see the brochures on Nonproliferation and Terrorism 

for further information on these programs. 

• FINANCING PURCHASES FROM IRAN OR ITS GOVERNMENT -

Payments for authorized imports of foodstuffs and carpets must 

reference the relevant section of the ITR. While U.S. depository 

institutions may deal with Iranian banks on a documentary collection 

basis [URC 522] for authorized purchases of foodstuffs or carpets, 

neither payments under collections, nor any other payments, may 

involve a debit or credit to the account of a person in Iran or the 

Government of Iran on the books of a U.S. depository institution. U.S. 

depository institutions may issue letters of credit for purchases 

provided that the letters of credit are not advised, negotiated, paid, or 

confirmed by a bank that is included within the definition of the term 

Government of Iran. A bank that is included in the definition of the term 

Government of Iran may forward letter of credit documents strictly on a 

documentary collection basis, either directly to a U.S. depository 

institution or to a third-country bank that is not included within the 

definition of the term Government of Iran, but cannot send them on an 

“approval” basis since it cannot be party to a letter of credit. 

• FINANCING IRANIAN-ORIGIN FOODSTUFFS AND CARPETS 

OTHER THAN PURCHASES FROM IRAN OR ITS GOVERNMENT - 

U.S. depository institutions are authorized to issue, advise, negotiate, 

pay, or confirm letters of credit to pay for transactions in or related to 

foodstuffs and carpets as referenced in amendments to the ITR issued 

at the end of April 2000, other than purchases from Iran or its 

Government, provided that such letters of credit are not issued, 

advised, negotiated, paid, or confirmed by a bank that is included 

within the definition of the term Government of Iran. 

• "PRE-ZERO CONTRACTS" - Letters of credit and other financing 

arrangements with respect to trade contracts in force as of May 6, 

1995, may be performed pursuant to their terms provided that the 

underlying trade transaction was completed prior to June 6, 1995 

(February 2, 1996 for “agricultural commodities”), or as specifically 

licensed by OFAC. Standby letters of credit that serve as performance 

guarantees for services to be rendered after June 6, 1995, cannot be 

renewed and payment may not be made after that date without 

authorization by OFAC. 
• OTHER BANKING SERVICES - U.S. depository institutions, 

including foreign branches, are prohibited from servicing accounts of 

the Government of Iran, including banks owned or controlled by the 

Government of Iran (as in Appendix A) or persons in Iran. However, 

they are authorized to pay interest, deduct reasonable and customary 

service charges, process transfers related to exempt transactions, 

such as the exportation of information or informational material, a 

travel-related remittance, or a payment for the shipment of a donation 

of articles to relieve human suffering or, at the request of an account 

holder, effect a lump sum closure of an account by payment to its 

owner. They may not otherwise directly credit or debit Iranian 

accounts. 

U.S. depository institutions and U.S. registered brokers or dealers in 

securities initiating or receiving payment orders involving Iran on behalf 

of customers must determine prior to processing such payments that 

they do not involve transactions prohibited by the Iranian Transactions 

Regulations. 

• TRAVEL - All transactions ordinarily incident to travel to or from Iran, 

including the importation of accompanied baggage for strictly personal 

use, payment of maintenance and living expenses and acquisition of 

goods or services for personal use are permitted. 

• NON-GOVERNMENTAL ORGANIZATIONS – Under a general 

license issued by OFAC, effective August 22, 2006, U.S. persons that 

are employees or contractors for the following international 

organizations - the United Nations, the World Bank, the International 

Monetary Fund, the International Atomic Energy Agency, the 

International Labor Organization or the World Health Organization - are 

authorized to engage in transactions for the conduct of official business 

in or involving Iran. Authorized transactions may include leasing office 

space or purchasing Iranian-origin goods necessary to carry out official 

business, provided that the funds transfers to and from Iran do not 

involve a debit or credit on the books of a U.S. financial institution. The 

exportation or the re-exportation of US-origin or non- U.S.-origin goods 

or technology listed on the Commerce Control List in the Export 

Administration Regulations is not authorized. 

• OVERFLIGHT PAYMENTS - Payments to Iran for services rendered 

by the Government of Iran in connection with the overflight of Iran or 

emergency landing in Iran of aircraft owned by United States persons 

or registered in the U.S. are authorized. 

• PERSONAL COMMUNICATIONS, INFORMATION AND 

INFORMATIONAL MATERIALS - The receipt or transmission of 

postal, telegraphic, telephonic or other personal communications, 

which does not involve the transfer of anything of value, between the 

United States and Iran is authorized. The exportation from the United 

States to Iran of information and informational materials, whether 

commercial or otherwise, regardless of format or medium of 

transmission, and any transaction incident to such exportation is 

authorized. 

• TRANSACTIONS INVOLVING U.S. AFFILIATES - No U.S. person 

may approve or facilitate the entry into or performance of transactions 

or contracts with Iran by a foreign subsidiary of a U.S. firm that the 

U.S. person is precluded from performing directly. Similarly, no U.S. 

person may facilitate such transactions by unaffiliated foreign persons. 

• IRANIAN PETROLEUM INDUSTRY - U.S. persons may not trade in 

Iranian oil or petroleum products refined in Iran, nor may they finance 

such trading. Similarly, U.S. persons may not perform services, 

including financing services, or supply goods or technology that would 

benefit the Iranian oil industry. 

APPENDIX A - BANKS OR ENTITIES OWNED OR CONTROLLED BY THE 

GOVERNMENT OF IRAN 

AGRICULTURAL COOPERATIVE BANK OF IRAN (a.k.a. BANK TAAVON KESHAVARZI IRAN), No. 129 Patrice 

Lumumba Street, Jalal-Al-Ahmad Expressway, P.O. Box 14155/6395, Tehran, Iran [IRAN] 

ASCOTEC HOLDING GMBH (f.k.a. AHWAZ STEEL COMMERCIAL & TECHNICAL SERVICE GMBH 

ASCOTEC; a.k.a. ASCOTEC GMBH), Tersteegen Strasse 10, Dusseldorf 40474, Germany; Registration ID HRB 

26136 (Germany); all offices worldwide [IRAN] 

ASCOTEC JAPAN K.K., 8th Floor, Shiba East Building, 2-3-9 Shiba, Minato-ku, Tokyo 105-0014, Japan; all 

offices worldwide [IRAN] 

ASCOTEC MINERAL & MACHINERY GMBH (f.k.a. BREYELLER KALTBAND GMBH), Tersteegenstr. 10, 

Dusseldorf 40474, Germany; Registration ID HRB 55668 (Germany); all offices worldwide [IRAN] 

ASCOTEC SCIENCE & TECHNOLOGY GMBH, Tersteegenstrasse 10, Dusseldorf D 40474, Germany; 

Registration ID HRB 58745 (Germany); all offices worldwide [IRAN] 

ASCOTEC STEEL TRADING GMBH (a.k.a. ASCOTEC STEEL), Tersteegenstr. 10, Dusseldorf 40474, Germany; 

Georg-Glock-Str. 3, Dusseldorf 40474, Germany; Registration ID HRB 48319 (Germany); all offices worldwide 

[IRAN] 

BANK KESHAVARZI IRAN (a.k.a. AGRICULTURAL BANK OF IRAN; a.k.a. BANK KESHAVARZI), PO Box 

14155-6395, 129 Patrice Lumumba St, Jalal-al-Ahmad Expressway, Tehran 14454, Iran; all offices worldwide 

[IRAN] 

BANK MARKAZI JOMHOURI ISLAMI IRAN (a.k.a. BANK MARKAZI IRAN; a.k.a. CENTRAL BANK OF IRAN; 

a.k.a. CENTRAL BANK OF THE ISLAMIC REPUBLIC OF IRAN), 213 Ferdowsi Avenue, Tehran 11365, Iran; PO 

Box 15875/7177, 144 Mirdamad Blvd, Tehran, Iran [IRAN] 

BANK MASKAN (a.k.a. HOUSING BANK (OF IRAN)), PO Box 11365/5699, No 247 3rd Floor Fedowsi Ave, Cross 

Sarhang Sakhaei St, Tehran, Iran; all offices worldwide [IRAN] 

BANK MELLAT, Head Office Bldg, 327 Taleghani Ave, Tehran 15817, Iran; 327 Forsat and Taleghani Avenue, 

Tehran 15817, Iran; PO Box 375010, Amiryan Str #6, P/N-24, Yerevan, Armenia; Keumkang Tower - 13th & 14th 

Floor, 889-13 Daechi-Dong, Gangnam-Ku, Seoul 135-280, Korea, South; PO Box 79106425, Ziya Gokalp Bulvari 

No 12, Kizilay, Ankara, Ankara, Turkey; Cumhuriyet Bulvari No 88/A, PK 7103521, Konak, Izmir, Turkey; 

Buyukdere Cad, Cicek Sokak No 1 - 1 Levent, Levent, Istanbul, Turkey; all offices worldwide [IRAN] [NPWMD] 

[IFSR] 

BANK MELLI IRAN (a.k.a. BANK MELLI; a.k.a. NATIONAL BANK OF IRAN), PO Box 11365-171, Ferdowsi 

Avenue, Tehran, Iran; 43 Avenue Montaigne, Paris 75008, France; Room 704-6, Wheelock Hse, 20 Pedder St, 

Central, Hong Kong; Bank Melli Iran Bldg, 111 St 24, 929 Arasat, Baghdad, Iraq; PO Box 2643, Ruwi, Muscat 

112, Oman; PO Box 2656, Liva Street, Abu Dhabi, United Arab Emirates; PO Box 248, Hamad Bin Abdulla St, 

Fujairah, United Arab Emirates; PO Box 1888, Clock Tower, Industrial Rd, Al Ain Club Bldg, Al Ain, Abu Dhabi, 

United Arab Emirates; PO Box 1894, Baniyas St, Deira, Dubai City, United Arab Emirates; PO Box 5270, Oman 

Street Al Nakheel, Ras Al-Khaimah, United Arab Emirates; PO Box 459, Al Borj St, Sharjah, United Arab 

Emirates; PO Box 3093, Ahmed Seddiqui Bldg, Khalid Bin El-Walid St, Bur-Dubai, Dubai City 3093, United Arab 

Emirates; PO Box 1894, Al Wasl Rd, Jumeirah, Dubai, United Arab Emirates; Postfach 112 129, Holzbruecke 2, 

D-20459, Hamburg, Germany; Nobel Ave. 14, Baku, Azerbaijan; Unit 1703-4, 17th Floor, Hong Kong Club 

Building, 3 A Chater Road Central, Hong Kong; all offices worldwide [IRAN] [NPWMD] [IFSR] 

BANK OF INDUSTRY AND MINE (OF IRAN) (a.k.a. BANK SANAD VA MADAN; a.k.a. "BIM"), PO Box 15875-

4456, Firouzeh Tower, No 1655 Vali-Asr Ave after Chamran Crossroads, Tehran 1965643511, Iran; No 1655, 

Firouzeh Building, Mahmoudiye Street, Valiasr Ave, Tehran, Iran; all offices worldwide [IRAN] 

BANK REFAH KARGARAN (a.k.a. BANK REFAH; a.k.a. WORKERS' WELFARE BANK (OF IRAN)), No. 40 North 

Shiraz Street, Mollasadra Ave, Vanak Sq, Tehran 19917, Iran; all offices worldwide [IRAN] 

BANK SADERAT IRAN (a.k.a. IRAN EXPORT BANK), Ground Floor Business Room, Building Banke Khoon 

Road, Harat, Afghanistan; No. 56, Opposite of Security Department, Toraboz Khan Str., Kabul, Afghanistan; 5 

Lothbury, London EC2R 7HD, United Kingdom; Postfach 112227, Deichstrasse 11, 20459, Hamburg, Germany; 

PO Box 4308, 25-29 Venizelou St, Athens, Attica GR 105 64, Greece; PO Box 15745-631, Bank Saderat Tower, 

43 Somayeh Avenue, Tehran, Iran; 16 rue de la Paix, Paris 75002, France; Postfach 160151, Friedenstr 4, D60311, Frankfurt am Main, Germany; 3rd Floor, Aliktisad Bldg, Ras El Ein Street Baalbak, Baalbak, Lebanon; 

Saida Branch, Sida Riad Elsoleh St, Martyrs Sq, Saida, Lebanon; Borj Albarajneh Branch - 20 Alholom Bldg, 

Sahat Mreijeh, Kafaat St, Beirut, Lebanon; 1st Floor, Alrose Bldg, Verdun - Rashid Karame St, Beirut, Lebanon; 

PO Box 5126, Beirut, Lebanon; 3rd Floor, Mteco Centre, Mar Elias, Facing Al Hellow Barrak, POB 5126, Beirut, 

Lebanon; Alghobeiri Branch - Aljawhara Bldg, Ghobeiry Blvd, Beirut, Lebanon; PO Box 1269, Muscat 112, 

Oman; PO Box 4425, Salwa Rd, Doha, Qatar; PO Box 2256, Doha, Qatar; 2nd Floor, No 181 Makhtoomgholi 

Ave, Ashgabat, Turkmenistan; PO Box 700, Abu Dhabi, United Arab Emirates; PO Box 16, Liwara Street, Ajman, 

United Arab Emirates; PO Box 1140, Al-Am Road, Al-Ein, Al Ain, Abu Dhabi, United Arab Emirates; Bur Dubai, 

Khaled Bin Al Walid St, Dubai City, United Arab Emirates; Sheikh Zayed Rd, Dubai City, United Arab Emirates; 

PO Box 4182, Almaktoum Rd, Dubai City, United Arab Emirates; PO Box 4182, Murshid Bazar Branch, Dubai 

City, United Arab Emirates; PO Box 316, Bank Saderat Bldg, Alaroda St, Borj Ave, Sharjah, United Arab 

Emirates; all offices worldwide [IRAN] [SDGT] [IFSR] 

BANK SADERAT PLC (f.k.a. IRAN OVERSEAS INVESTMENT BANK LIMITED; f.k.a. IRAN OVERSEAS 

INVESTMENT BANK PLC; f.k.a. IRAN OVERSEAS INVESTMENT CORPORATION LIMITED), 5 Lothbury, 

London EC2R 7HD, United Kingdom; PO Box 15175/584, 6th Floor, Sadaf Bldg, 1137 Vali Asr Ave, Tehran 

15119-43885, Iran; UK Company Number 01126618 (United Kingdom); all offices worldwide [IRAN] [SDGT] 

BANK SEPAH, Imam Khomeini Square, Tehran 1136953412, Iran; 64 Rue de Miromesnil, Paris 75008, France; 

Hafenstrasse 54, D-60327, Frankfurt am Main, Germany; Via Barberini 50, Rome, RM 00187, Italy; 17 Place 

Vendome, Paris 75008, France; all offices worldwide [IRAN] [NPWMD] [IFSR] 

BANK TEJARAT, PO Box 11365-5416, 152 Taleghani Avenue, Tehran 15994, Iran; 130, Zandi Alley, Taleghani 

Avenue, No 152, Ostad Nejat Ollahi Cross, Tehran 14567, Iran; 124-126 Rue de Provence, Angle 76 bd 

Haussman, Paris 75008, France; PO Box 734001, Rudaki Ave 88, Dushanbe 734001, Tajikistan; Office C208, 

Beijing Lufthansa Center No 50, Liangmaqiao Rd, Chaoyang District, Beijing 100016, China; c/o EuropaischIranische Handelsbank AG, Depenau 2, D-20095, Hamburg, Germany; PO Box 119871, 4th Floor, c/o Persia 

International Bank PLC, The Gate Bldg, Dubai City, United Arab Emirates; c/o Persia International Bank, 6 

Lothbury, London EC2R 7HH, United Kingdom; all offices worldwide [IRAN] 

BANK TORGOVOY KAPITAL ZAO (a.k.a. TC BANK; a.k.a. TK BANK; a.k.a. TK BANK ZAO; a.k.a. TORGOVY 

KAPITAL (TK BANK); a.k.a. TRADE CAPITAL BANK; a.k.a. TRADE CAPITAL BANK (TC BANK); a.k.a. ZAO 

BANK TORGOVY KAPITAL), 3 Kozlova Street, Minsk 220005, Belarus; Registration ID 30 (Belarus); all offices 

worldwide [IRAN] 

BIMEH IRAN INSURANCE COMPANY (U.K.) LIMITED (a.k.a. BIUK), 4/5 Fenchurch Buildings, London EC3M 

5HN, United Kingdom; UK Company Number 01223433 (United Kingdom); all offices worldwide [IRAN] 

BREYELLER STAHL TECHNOLOGY GMBH & CO. KG (f.k.a. ROETZEL-STAHL GMBH & CO. KG), Josefstrasse 

82, Nettetal 41334, Germany; Registration ID HRA 4528 (Germany); all offices worldwide [IRAN] 

EUROPAISCH-IRANISCHE HANDELSBANK AG (f.k.a. DEUTSCH-IRANISCHE HANDELSBANK AG; a.k.a. 

EUROPAEISCH-IRANISCHE HANDELSBANK; a.k.a. EUROPAEISCH-IRANISCHE HANDELSBANK 

AKTIENGESELLSCHAFT; a.k.a. GERMAN-IRANIAN TRADE BANK), Hamburg Head Office, Depenau 2, D20095 Hamburg, P.O. Box 101304 D-20008 Hamburg, Hamburg, Germany; Tehran Branch, 1655/1, Valiasr 

Avenue, P.O. Box 19656 43 511, Tehran, Iran; Kish Branch, Sanaee Avenue, P.O. Box 79415/148, Kish Island 

79415, Iran [IRAN] [NPWMD] 

EXPORT DEVELOPMENT BANK OF IRAN (a.k.a. BANK TOSEH SADERAT IRAN; a.k.a. BANK TOWSEEH 

SADERAT IRAN; a.k.a. BANK TOWSEH SADERAT IRAN; a.k.a. EDBI), Export Development Building, Next to 

the 15th Alley, Bokharest Street, Argentina Square, Tehran, Iran; Tose'e Tower, Corner of 15th St., Ahmad Qasir 

Ave., Argentine Square, Tehran, Iran; No. 129, 21's Khaled Eslamboli, No. 1 Building, Tehran, Iran; No. 26, Tosee 

Tower, Arzhantine Square, P.O. Box 15875-5964, Tehran 15139, Iran; No. 4, Gandi Ave., Tehran 1516747913, 

Iran; C.R. No. 86936 (Iran) issued 10 Jul 1991; all offices worldwide [IRAN] [NPWMD] [IFSR] 

IFIC HOLDING AG (a.k.a. IHAG), Koenigsallee 60 D, Dusseldorf 40212, Germany; Registration ID HRB 48032 

(Germany); all offices worldwide [IRAN] 

IHAG TRADING GMBH, Koenigsallee 60 D, Dusseldorf 40212, Germany; Registration ID HRB 37918 

(Germany); all offices worldwide [IRAN] 

INDUSTRIAL DEVELOPMENT AND RENOVATION ORGANIZATION OF IRAN (a.k.a. IDRO; a.k.a. IRAN 

DEVELOPMENT & RENOVATION ORGANIZATION COMPANY; a.k.a. SAWZEMANE GOSTARESH VA 

NOWSAZI SANAYE IRAN), Vali Asr Building, Jam e Jam Street, Vali Asr Avenue, Tehran 15815-3377, Iran; all 

offices worldwide [IRAN] 

INTRA CHEM TRADING GMBH (a.k.a. INTRA-CHEM TRADING CO. (GMBH)), Schottweg 3, Hamburg 22087, 

Germany; Registration ID HRB48416 (Germany); all offices worldwide [IRAN] 

IRAN FOREIGN INVESTMENT COMPANY (a.k.a. IFIC), No. 4, Saba Blvd., Africa Blvd., Tehran 19177, Iran; 

P.O. Box 19395-6947, Tehran, Iran; all offices worldwide [IRAN] 

IRAN INSURANCE COMPANY (a.k.a. BIMEH IRAN), Abdolaziz-Al-Masaeed Building, Sheikh Maktoom St., 

Deira, P.O. Box 2004, Dubai, United Arab Emirates; P.O. Box 1867, Al Ain, Abu Dhabi, United Arab Emirates; 

107 Dr Fatemi Avenue, Tehran 14155/6363, Iran; P.O. Box 3281, Abu Dhabi, United Arab Emirates; P.O. Box 

1666, Sharjah, United Arab Emirates; P.O. Box 849, Ras-Al-Khaimah, United Arab Emirates; P.O. Box 417, 

Muscat 113, Oman; P.O. Box 676, Salalah 211, Oman; P.O. Box 995, Manama, Bahrain; Al-Lami Center, AliBin-Abi Taleb St. Sharafia, P.O. Box 11210, Jeddah 21453, Saudi Arabia; Al Alia Center, Salaheddine Rd., Al 

Malaz, P.O. Box 21944, Riyadh 11485, Saudi Arabia; Al Rajhi Bldg., 3rd Floor, Suite 23, Dhahran St., P.O. Box 

1305, Dammam 31431, Saudi Arabia; all offices worldwide [IRAN] 

IRAN PETROCHEMICAL COMMERCIAL COMPANY (a.k.a. PETROCHEMICAL COMMERCIAL COMPANY; 

a.k.a. SHERKATE BASARGANI PETROCHEMIE (SAHAMI KHASS); a.k.a. SHERKATE BAZARGANI 

PETRCHEMIE; a.k.a. "IPCC"; a.k.a. "PCC"), INONU CAD. SUMER Sok., Zitas Bloklari C.2 Bloc D.H, Kozyatagi, 

Kadikoy, Istanbul, Turkey; Topcu Ibrahim Sokak No: 13 D: 7 Icerenkoy-Kadikoy, Istanbul, Turkey; No. 1339, Vali 

Nejad Alley, Vali-e-Asr St., Vanak Sq., Tehran, Iran; 99-A, Maker Tower F, 9th Floor, Cuffe Parade, Colabe, 

Mumbai 400 005, India; No. 1014, Doosan We've Pavilion, 58, Soosong-Dong, Jongno-Gu, Seoul, Korea, South; 

Office No. 707, No. 10, Chao Waidajie, Chao Tang District, Beijing 100020, China; all offices worldwide [IRAN] 

IRANIAN MINES AND MINING INDUSTRIES DEVELOPMENT AND RENOVATION ORGANIZATION (a.k.a. 

IMIDRO; a.k.a. IRAN MINING INDUSTRIES DEVELOPMENT AND RENOVATION ORGANIZATION; a.k.a. 

IRANIAN MINES AND MINERAL INDUSTRIES DEVELOPMENT AND RENOVATION), No. 39, Sepahbod 

Gharani Avenue, Ferdousi Square, Tehran, Iran; all offices worldwide [IRAN] 

IRANIAN OIL COMPANY (U.K.) LIMITED (a.k.a. IOC UK LTD), Riverside House, Riverside Drive, Aberdeen 

AB11 7LH, United Kingdom; UK Company Number 01019769 (United Kingdom); all offices worldwide [IRAN] 

IRASCO S.R.L. (a.k.a. IRASCO ITALY), Via Di Francia 3, Genoa 16149, Italy; Registration ID GE 348075 (Italy); 

all offices worldwide [IRAN] 

KALA LIMITED (a.k.a. KALA NAFT LONDON LTD), NIOC House, 4 Victoria Street, Westminster, London SW1H 

0NE, United Kingdom; UK Company Number 01517853 (United Kingdom); all offices worldwide [IRAN] 

KALA PENSION TRUST LIMITED, C/O Kala Limited, N.I.O.C. House, 4 Victoria Street, London SW1H 0NE, 

United Kingdom; UK Company Number 01573317 (United Kingdom); all offices worldwide [IRAN] 

MACHINE SAZI ARAK CO. LTD. (a.k.a. MACHINE SAZI ARAK COMPANY P J S C; a.k.a. MACHINE SAZI 

ARAK SSA; a.k.a. MASHIN SAZI ARAK; a.k.a. "MSA"), Arak, Km 4 Tehran Road, Arak, Markazi Province, Iran; 

No. 1, Northern Kargar Street, Tehran 14136, Iran; P.O. Box 148, Arak 351138, Iran; all offices worldwide 

[IRAN] 
MAHAB GHODSS CONSULTING ENGINEERING COMPANY (a.k.a. MAHAB GHODSS CONSULTING 

ENGINEERING CO.; a.k.a. MAHAB GHODSS CONSULTING ENGINEERS SSK; a.k.a. MAHAB QODS 

ENGINEERING CONSULTING CO.), 16 Takharestal Alley, Dastgerdy Avenue, P.O. Box 19395-6875, Tehran 

19187 81185, Iran; No. 17, Dastgerdy Avenue, Takharestan Alley, 19395-6875, Tehran 1918781185, Iran; 

Registration ID 48962 (Iran) issued 1983; all offices worldwide [IRAN] 

METAL & MINERAL TRADE S.A.R.L. (a.k.a. METAL & MINERAL TRADE (MMT); a.k.a. MMT LUXEMBURG; 

a.k.a. MMT SARL), 11b, Boulevard Joseph II L-1840, Luxembourg; Registration ID B 59411 (Luxembourg); all 

offices worldwide [IRAN] 

MINES AND METALS ENGINEERING GMBH (M.M.E.), Georg-Glock-Str. 3, Dusseldorf 40474, Germany; 

Registration ID HRB 34095 (Germany); all offices worldwide [IRAN] 

MSP KALA NAFT CO. TEHRAN (a.k.a. KALA NAFT CO SSK; a.k.a. KALA NAFT COMPANY LTD; a.k.a. KALA 

NAFT TEHRAN; a.k.a. KALA NAFT TEHRAN COMPANY; a.k.a. KALAYEH NAFT CO; a.k.a. M.S.P.-KALA; a.k.a. 

MANUFACTURING SUPPORT & PROCUREMENT CO.-KALA NAFT; a.k.a. MANUFACTURING SUPPORT AND 

PROCUREMENT (M.S.P.) KALA NAFT CO. TEHRAN; a.k.a. MANUFACTURING, SUPPORT AND 

PROCUREMENT KALA NAFT COMPANY; a.k.a. MSP KALA NAFT TEHRAN COMPANY; a.k.a. MSP 

KALANAFT; a.k.a. MSP-KALANAFT COMPANY; a.k.a. SHERKAT SAHAMI KHASS KALA NAFT; a.k.a. 

SHERKAT SAHAMI KHASS POSHTIBANI VA TEHIYEH KALAYE NAFT TEHRAN; a.k.a. SHERKATE 

POSHTIBANI SAKHT VA TAHEIH KALAIE NAFTE TEHRAN), 242 Sepahbod Gharani Street, Karim Khan Zand 

Bridge, Corner Kalantari Street, 8th Floor, P.O. Box 15815-1775/15815-3446, Tehran 15988, Iran; Building No. 

226, Corner of Shahid Kalantari Street, Sepahbod Gharani Avenue, Karimkhan Avenue, Tehran 1598844815, 

Iran; No. 242, Shahid Kalantari St., Near Karimkhan Bridge, Sepahbod Gharani Avenue, Tehran, Iran; Head 

Office Tehran, Sepahbod Gharani Ave., P.O. Box 15815/1775 15815/3446, Tehran, Iran; P.O. Box 2965, Sharjah, 

United Arab Emirates; 333 7th Ave SW #1102, Calgary, AB T2P 2Z1, Canada; Chekhov St., 24.2 , AP 57, 

Moscow, Russia; Room No. 704 - No. 10 Chao Waidajie Chao Yang District , Beijing 10020, China; Sanaee 

Ave., P.O. Box 79417-76349, N.I.O.C., Kish, Iran; 10th Floor, Sadaf Tower, Kish Island, Iran; all offices worldwide 

[IRAN] 

NAFTIRAN INTERTRADE CO. (NICO) LIMITED (a.k.a. NAFT IRAN INTERTRADE COMPANY LTD; a.k.a. 

NAFTIRAN INTERTRADE COMPANY (NICO); a.k.a. NAFTIRAN INTERTRADE COMPANY LTD; a.k.a. NICO), 

3rd Floor, Windward House, La Route De La Liberation, St Helier JE2 3BQ, Jersey; Petro Pars Building, Saadat 

Abad Ave, No 35, Farhang Blvd, Tehran, Iran; all offices worldwide [IRAN] 

NAFTIRAN INTERTRADE CO. (NICO) SARL (a.k.a. NICO), 6, Avenue de la Tour-Haldimand, Pully, VD 1009, 

Switzerland; all offices worldwide [IRAN] 

NAFTIRAN TRADING SERVICES CO. (NTS) LIMITED, 47 Queen Anne Street, London W1G 9JG, United 

Kingdom; 6th Floor NIOC Ho, 4 Victoria St, London SW1H 0NE, United Kingdom; UK Company Number 

02600121 (United Kingdom); all offices worldwide [IRAN] 

NATIONAL IRANIAN OIL COMPANY (a.k.a. NIOC), Hafez Crossing, Taleghani Avenue, P.O. Box 1863 and 

2501, Tehran, Iran; all offices worldwide [IRAN] 

NATIONAL IRANIAN OIL COMPANY PTE LTD, 7 Temasek Boulevard #07-02, Suntec Tower One 038987, 

Singapore; Registration ID 199004388C (Singapore); all offices worldwide [IRAN] 

NATIONAL PETROCHEMICAL COMPANY (a.k.a. "NPC"), No. 104, North Sheikh Bahaei Blvd., Molla Sadra 

Ave., Tehran, Iran; all offices worldwide [IRAN] 

NICO ENGINEERING LIMITED, 41, 1st Floor, International House, The Parade, St. Helier JE2 3QQ, Jersey; 

Registration ID 75797 (Jersey); all offices worldwide [IRAN] 

NIOC INTERNATIONAL AFFAIRS (LONDON) LIMITED, NIOC House, 4 Victoria Street, London SW1H 0NE, 

United Kingdom; UK Company Number 02772297 (United Kingdom); all offices worldwide [IRAN] 

NPC INTERNATIONAL LIMITED (a.k.a. N P C INTERNATIONAL LTD; a.k.a. NPC INTERNATIONAL 

COMPANY), 5th Floor NIOC House, 4 Victoria Street, London SW1H 0NE, United Kingdom; UK Company 

Number 02696754 (United Kingdom); all offices worldwide [IRAN] 

ONERBANK ZAO (a.k.a. EFTEKHAR BANK; a.k.a. HONOR BANK; a.k.a. HONORBANK; a.k.a. HONORBANK 

ZAO; a.k.a. ONER BANK; a.k.a. ONERBANK; a.k.a. ONER-BANK), Ulitsa Klary Tsetkin 51, Minsk 220004, 

Belarus; Registration ID 807000227 (Belarus) issued 16 Oct 2009; SWIFT/BIC HNRBBY2X (Belarus); all offices 

worldwide [IRAN] 

P.C.C. (SINGAPORE) PRIVATE LIMITED (a.k.a. P.C.C. SINGAPORE BRANCH; a.k.a. PCC SINGAPORE PTE 

LTD), 78 Shenton Way, #08-02 079120, Singapore; 78 Shenton Way, 26-02A Lippo Centre 079120, Singapore; 

Registration ID 199708410K (Singapore); all offices worldwide [IRAN] 

PETROCHEMICAL COMMERCIAL COMPANY (U.K.) LIMITED (a.k.a. PCC (UK); a.k.a. PCC UK; a.k.a. PCC UK 

LTD), 4 Victoria Street, London SW1H 0NE, United Kingdom; UK Company Number 02647333 (United 

Kingdom); all offices worldwide [IRAN] 

PETROCHEMICAL COMMERCIAL COMPANY FZE (a.k.a. PCC FZE), 1703, 17th Floor, Dubai World Trade 

Center Tower, Sheikh Zayed Road, Dubai, United Arab Emirates; Office No. 99-A, Maker Tower "F" 9th Floor 

Cutte Pavade, Colabe, Bumbai 700005, India; all offices worldwide [IRAN] 

PETROCHEMICAL COMMERCIAL COMPANY INTERNATIONAL LIMITED (a.k.a. PETROCHEMICAL 

COMMERCIAL COMPANY INTERNATIONAL LTD; a.k.a. PETROCHEMICAL TRADING COMPANY LIMITED; 

a.k.a. "PCCI"), P.O. Box 261539, Jebel Ali, Dubai, United Arab Emirates; 41, 1st Floor, International House, The 

Parade, St. Helier JE2 3QQ, Jersey; Ave. 54, Yimpash Business Center, No. 506, 507, Ashkhabad 744036, 

Turkmenistan; No. 21 End of 9th St, Gandi Ave, Tehran, Iran; 21, Africa Boulevard, Tehran, Iran; Registration ID 

77283 (Jersey); all offices worldwide [IRAN] 

PETROIRAN DEVELOPMENT COMPANY (PEDCO) LIMITED (a.k.a. PETRO IRAN DEVELOPMENT 

COMPANY; a.k.a. "PEDCO"), National Iranian Oil Company - PEDCO, P.O. Box 2965, Al Bathaa Tower, 9th 

Floor, Apt. 905, Al Buhaira Corniche, Sharjah, United Arab Emirates; P.O. Box 15875-6731, Tehran, Iran; 41, 1st 

Floor, International House, The Parade, St. Helier JE2 3QQ, Jersey; No. 22, 7th Lane, Khalid Eslamboli Street, 

Shahid Beheshti Avenue, Tehran, Iran; No. 102, Next to Shahid Amir Soheil Tabrizian Alley, Shahid Dastgerdi (Ex 

Zafar) Street, Shariati Street, Tehran 19199/45111, Iran; Kish Harbour, Bazargan Ferdos Warehouses, Kish 

Island, Iran; Registration ID 67493 (Jersey); all offices worldwide [IRAN] 

PETROPARS INTERNATIONAL FZE (a.k.a. PPI FZE), P.O. Box 72146, Dubai, United Arab Emirates; all offices 

worldwide [IRAN] 

PETROPARS LTD. (a.k.a. PETROPARS LIMITED; a.k.a. "PPL"), Calle La Guairita, Centro Profesional 

Eurobuilding, Piso 8, Oficina 8E, Chuao, Caracas 1060, Venezuela; No. 35, Farhang Blvd., Saadat Abad, 

Tehran, Iran; P.O. Box 3136, Road Town, Tortola, Virgin Islands, British; all offices worldwide [IRAN] 

PETROPARS UK LIMITED, 47 Queen Anne Street, London W1G 9JG, United Kingdom; UK Company Number 

03503060 (United Kingdom); all offices worldwide [IRAN] 

SINA BANK (f.k.a. BFCC; f.k.a. BONYAD FINANCE AND CREDIT COMPANY; f.k.a. SINA FINANCE AND 

CREDIT COMPANY), 187 Motahhari Avenue, P.O. Box 1587998477, Tehran, Iran, Iran; Kish Financial Center, 

Kish Island, Iran; SWIFT/BIC SINAIRTH (Iran); alt. SWIFT/BIC SINAIRTH418 (Iran); all offices worldwide [IRAN] 

WEST SUN TRADE GMBH (a.k.a. WEST SUN TRADE), Winterhuder Weg 8, Hamburg 22085, Germany; Arak 

Machine Mfg. Bldg., 2nd Floor, opp. of College Economy, Northern Kargar Ave., Tehran 14136, Iran; 

Mundsburger Damm 16, Hamburg 22087, Germany; Registration ID HRB 45757 (Germany); all offices worldwide 

[IRAN] 

Iranian Assets Control Regulations - 31 C.F.R Part 

535 

Separate Iranian sanctions regulations appear at 31 C.F.R. Part 535. On 

November 14, 1979, the assets of the Government of Iran in the United States 

were blocked in accordance with IEEPA following the seizure of the American 

Embassy in Teheran and the taking of U.S. diplomats as hostages. Under the 

Iranian Assets Control Regulations (Title 31, Part 535 of the U.S. Code of 

Federal Regulations), some US$12 billion in Iranian Government bank deposits, 

gold, and other properties were frozen, including $5.6 billion in deposits and 

securities held by overseas branches of U.S. banks. The assets freeze was 

eventually expanded to a full trade embargo, which remained in effect until the 

Algiers Accords were signed with Iran on January 19, 1981. Pursuant to the 

Accords, most Iranian assets in the United States were unblocked and the trade 

embargo was lifted. The U.S. Government also canceled any attachments that 

U.S. parties had secured against Iranian assets in the United States, so that the 

assets could be returned to Iran or transferred to escrow accounts in third 

countries pursuant to the Accords. This action was upheld by the Supreme Court 

in 1981 in Dames & Moore v. Regan. Although greatly modified in scope, the old 

Iranian Assets Control Regulations remain in effect. Many U.S. nationals have 

claims against Iran or Iranian entities for products shipped or services rendered 

before the onset of the 1979 embargo or for losses sustained in Iran due to 

expropriation during that time. These claims are still being litigated in the IranUnited States Claims Tribunal at The Hague established under the Algiers 

Accords. Certain assets related to these claims remain blocked in the United 

States and consist mainly of military and dual-use property.

This document is explanatory only and does not have the force of law. The Executive Orders and implementing regulations dealing with Iran contain the legally binding 

provisions governing the sanctions. This document does not supplement or modify those Executive Orders or regulations. 

The Treasury Department’s Office of Foreign Assets Control also administers sanctions programs involving the Balkans, Burma (Myanmar), Cuba, Diamond Trading, Iran, 

Iraq, Lebanon, Liberia, North Korea, Somalia, Sudan, Syria, Zimbabwe as well as highly enriched uranium, designated Terrorists and international Narcotics Traffickers, 

Foreign Terrorist Organizations and designated foreign persons who have engaged in activities relating to the proliferation of weapons of mass destruction. For additional 

information about these programs or about sanctions involving Iran, please contact the: 

OFFICE OF FOREIGN ASSETS CONTROL 

U.S. Department of the Treasury 

1500 Pennsylvania Avenue, N.W. - Annex 

Washington, D.C. 20220 

http://www.treas.gov/ofac 

202/622-2490 

9-7-10