Iran sanctions imposed by US Government

US government has imposed sanctions against individual, organizations and foreign states such as Iran and North Korea who are indulged in anti-state activities and terrorism. There are some groups sponsor terrorism and terrorists. All these groups and states are abandoned to business deals with all US based companies. Iran sanctions are imposed by US government after bombing of US Marine barracks in Lebanon and due to Islamic revolution. That is why import and export are banned with Iran. Selling aircraft and repair parts to aviation companies in Iran are banned. There are ban on nuclear, missile, investments in oil and gas and petrochemicals, refines petroleum products, shipping and certain military exports to Iran and business dealings with Iranian republican Guard Corps. Due to Iran sanctions, Iran is facing economical halt from a long time. There is an increase in inflation and costs of goods, unsteady supple and disrupted exports.

OFAC, The Office of the Foreign Assets Control, an agency of US Department of the Treasury, carries out administration activities and enforcements of trade and economic sanctions in US for national security goals.  Special Designated Nationals list is published by OFAC that includes names of all prohibited individual, organizations and foreign states indulged in anti-state activities and terrorism. People who are involved in US economic sanctions and require extensive lawyers to deal with their matters can easily approach Ferrari Legal, P.C. a law firm.

Matters related to Iran Sanctions

Economic and trade sanctions are administered and enforced by The Office of Foreign Assets Control also known as OFAC. OFAC is an agency of US department of the treasury. These sanctions are imposed by US government based on U.S. foreign policy and national security goals against targeted states, organizations and individuals such as Iran and North Korea. This agency maintains and publishes a list that includes all such states, organizations and individuals that sponsor or are involved in terrorism activities. This list is known as Special Designated Nationals or SDN list. Business companies and organizations of US are not allowed to deal with any such state, organization or individual listen in SDN list. Iran is facing political and economical troubles due to Iran sanctions from a long period of time. Under sanctions nuclear, missile and certain military exports to Iran are banned. Other investments in oil, gas and petrochemicals and their exports are not allowed or are banned. This has affected business dealings with Iranian Republic Guard Corps. Banking transactions, insurance transactions and transfer money to Iran related matters. All are banned. Ferrari & Associates, P.C. is a law firm that has represented numbers of clients involved in matters related to US economy or Iran Sanctions such as ban on business dealings or transfer money to Iran pending before OFAC. Serious federal and international criminal offenses and federal employment matters are also represented by the firm.

Its all about OFAC

All U.S. based businesses must meets the terms with the Section of Treasury’s Office of Foreign Assets Control’s (OFAC) necessities against doing business with targeted foreign countries, terrorists, international narcotics traffickers and those who are involved in activities related to the proliferation of weaponry of mass demolition. OFAC SDN list administers a lot of U.S. economic sanctions and impediment that target geographic vicinity, governments and also publishes a record called the specially nominated Nationals and futile Persons.

All U.S. people are forbidden as of dealing with SDNs wherever they are situated and all SDN possessions must be blocked. Because OFAC’s agendas are active and regularly changing, your patrons must be tartan against OFAC SDN list the most existing record. If a matched, you are required to examine the eminence of the match and abolish no matter which that is a false positive. If you have a straight match, or more than one reason that collaborates a possible match, you are duty-bound to report it immediately to OFAC. So that attorney’s can provide OFAC Solutions

If the dealing is not being done as per the OFAC regulations and as per the terms and conditions particular in the OFAC SDN list, the future transactions may give problem in relation to the property and assets. The study of OFAC SDN list is therefore advisable to the others before started on any business in the foreign property.

Iran sanctions

Economic sanctions are tricky business as anyone at the Council on Foreign Relations would agree. Economic sanctions are one lever but alone seldom bring the desired results. Okay so, are the Iran sanctions, well, yes and no, and it looks as if the US, EU, UN may agree to further sanctions including the Iranian Central Bank. After all, Iran is trading with Russia, China, India, Syria, Venezuela, and they are energy rich, as in oil.

Sanctions commonly bar nuclear, missile and certain military exports to Iran; investments in oil, gas and petrochemicals; exports of refined petroleum products; business dealings with the Iranian Republican Guard Corps; banking and insurance transactions, including with the Central Bank of Iran; and shipping. The UN Security Council Sanctions against Iran shows that nobody believes that Iran’s nuclear enrichment program is for peaceful purposes. Iran now has no defense against an attack on their nuclear program by the United States and Israel. Hopefully now Iran will abandon their drive for nuclear weapons so that Israel and the United States, with the support of Russia, China, France and Germany will not have to take the gloves off to save the world.

OFAC SDN List Removal

The United States government, acting through the Department of Treasury’s Office of Foreign Assets Control (OFAC), will target and “designate” an individual or business based on foreign policy and national security concerns. Collectively, the individuals and businesses are called “Specially Designated Nationals” or “SDNs.”

It is not a criminal matter, nor is it necessarily a civil matter. That means in the vast majority of cases a U.S. federal court will never be involved in the removal process. The  OFAC SDN List removal  process takes place before the United States Department of Treasury Office of Foreign Assets Control. Therefore, a defensive mind state and approach will not work in addressing a removal matter.

If you are on the SDN List and you are not already contesting your designation, you are going to be on the OFAC SDN List for a while. This is just the nature of the removal process. OFAC does not move quickly and you’ll often wait up to 6-9 months before even hearing back from them regarding your initial request. There are certain ways to expedite the process; however, it still takes some time. The OFAC SDN List removal process can take years, therefore, if you have been wrongly designated you need to move today to start contesting your SDN designation.