Menu Home

OFCA’s IFCA/E.O. 13645 FAQ: Determining Section 1245 Applicability

The question (No 301):

How will the determination be made as to whether materials are used in a manner that would make them subject to sanctions under section 1245 of IFCA?

The answer:

A FFI, prior to conducting or facilitating a significant financial transaction for the sale, supply, or transfer to or from Iran of the materials will need to undertake due diligence to ensure that the transaction does not involve the materials listed in section 1245(d) – as described in part in Q&A 298 – being sold, supplied, or transferred, directly or indirectly, to or from Iran for sanctionable uses under section 1245. [06-03-13]

 

Categories: Guidance IFCA Iranian Sanctions OFAC Updates Sanctions Programs Sanctions Regulations

eric9to5

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: