Sanctions Regulations
Section 1245 of the Iran Freedom and Counter-Proliferation Act (IFCA) permits the President to impose 5 or more Iran Sanctions Act (ISA) sanctions on persons or entities involved in the sale, supply or transfer, to or from Iran of any precious metal, any good used in the energy, shipping, or […]
Section 1244 of the NDAA for 2013 (aka “IFCA” or the “Iran Freedom and Counter-Proliferation Act of 2013”) sanctions these 3 sectors of the Iranian economy. Why? In part, because: (1) Iran’s energy, shipping, and shipbuilding sectors andIran’s ports are facilitating the Government of Iran’s nuclearproliferation activities by providing revenue […]
This is the first of many posts on IFCA sanctions – we're going to answer the basic question: why is the US doing this? This is the Sense of Congress section which explains why sanctions are being imposed and what we want to do in terms of sanctions: SEC. 1243. […]
See what happens when a layman tries to read a lengthy law? IFCA, the Iran Freedom and Counter-Proliferation Act, is, as previously reported, Subtitle D in the National Defense Authorization Act of 2013. But, there are many Subtitle Ds in the NDAA. Just so you know, IFCA is Subtitle […]
They're listed under the UK, since this is where I found them. Obviously, the EU/EC regulations are applicable to all of the European Union. Included are 4 set of regs: Terrorist Asset-Freezing etc. Act 2010 Al-Qaida (Asset-Freezing) Regulations 2011 Council Regulation (EC) No 2580/2001 Council Regulation (EC) No 881/2002 I'll […]
The Watchlists, Licenses and Regulatory Links pages have been updated: The Licenses page has updated links for the 5 General Licenses for the terrorism sanctions, as well as a link to the page where they all are (because of the nice synopsis of the 5 on that page) The Watchlist […]
The new page has nice, short descriptions of the 5 General Licenses. Rather than rephrase them… Provision of insurance policies to designated persons This licence allows insurers (including a broker, underwriter or intermediary) to issue an insurance policy of any description to a designated person. Insurers are required to report […]
The National Defense Authorization Act of 2013 (NDAA), dated January 2nd of this year, includes the Iran Freedom and Counter-Proliferation Act (IFCA) in its Subtitle D. It's bigger than a breadbox (yes, Mr. Watchlist will write a post or two explaining it), so here are just the section listings of […]
P is also for Penalties – in particular, this covers the penalties for violations under the Trading with the Enemy Act… This part of the RPPR is from 31 CFR 501.701-747 (aka “Subpart D”). Sections 704 through 747 deal with the minutiae of the hearing process, and won't be covered […]
My friend at OFAC confirmed, off the record, of course, that the statutory maximum civil penalty for the Kingpin Act is still $1,075,000. So, I whipped out my browser and my calculator and did the math. In June 2002, the CPI-U (used for calculating the adjustment) was, according to the […]
Mr. Watchlist 