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

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

This fact sheet provides general information about the Iranian sanctions
programs under the Iranian Transactions Regulations, 31 C.F.R. Part 560, and the
Iranian Assets Control Regulations, 31 C.F.R. Part 535.  These sanctions are
administered by the U.S. Treasury Department’s Office of Foreign Assets Control
(“OFAC”).

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 support 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.

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Iran was revoked.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.

Effective September 29, 2010, the authorization to import into the United
States, and deal in, certain foodstuffs and carpets of Iranian origin was
revoked pursuant to section 103 of the Comprehensive Iran Sanctions,
Accountability, and Divestment Act of 2010.  The exceptions to the prohibition
on importing goods and services are listed in the IMPORTS FROM 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.

OFAC will provide additional guidance on the implementation of sections 104 and
105 of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of
2010 soon.

• 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 and informational materials;

c) Household and personal effects, of persons arriving in the United
States,
that were actually used abroad by the importer or by other family members
arriving from the same foreign household, that are not intended for any other
person or for sale, and that are not otherwise prohibited from importation; and

d) Accompanied baggage for personal use normally incident to travel.

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 below).

• EXPORTS TO IRAN - In general, unless licensed by OFAC, goods, technology, 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
“information and informational materials” are permitted. “Information and
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 - 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 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 or entities 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.

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.

• "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. 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 personal use, payment of
maintenance and living expenses and acquisition of goods or services for
personal use are permitted.

• INTERNATIONAL 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 that does not involve the transfer of anything of value between
the United States and Iran is permitted. The importation into the United States
from Iran and 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 importation or
exportation is permitted.

• 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.


PERSONS DETERMINED TO BE THE GOVERNMENT OF IRAN, AS DEFINED IN § 560.304 OF THIS
PART

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; Esteghlal
St., Opposite to Otbeh Ibn Ghazvan Hall , Basrah, Iraq; 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] [NPWMD] [IFSR]

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] [NPWMD] [IFSR]

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, D-60311, 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 Europaisch-Iranische 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; SWIFT/BIC BTEJ IR TH; all offices
worldwide [IRAN] [NPWMD] [IFSR]

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); SWIFT/BIC BBTK BY 2X; all
offices worldwide [IRAN] [NPWMD] [IFSR]

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. EUROPAESCH-IRANISCHE
HANDELSBANK AKTIENGESELLSCHAFT; a.k.a. GERMAN-IRANIAN TRADE BANK), Hamburg Head
Office, Depenau 2, D-20095 Hamburg, P.O. Box 101304, D-20008 Hamburg, Hamburg ,
Germany; Kish Branch, Sanaee Avenue, PO Box 79415/148, Kish Island 79415, Iran;
Tehran Branch, No. 1655/1, Valiasr Avenue, PO Box 19656 43 511, Tehran, Iran;
all offices worldwide [IRAN] [NPWMD] [IFSR]  

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, Ali-Bin-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), |41, 1st Floor, International House, The Parade, St Helier 
JE2 3QQ, 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] 

PARS OIL AND GAS COMPANY (a.k.a. POGC), No. 133, Side of Parvin Etesami Alley,
opposite Sazman Ab - Dr. Fatemi Avenue, Tehran, Iran; No. 1 Parvin Etesami
Street, Fatemi Avenue, Tehran, Iran [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] [ISA]

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 Iran-United 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 diplomatic and consular 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

1-23-12