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Code of Federal Regulations Title 31. Money and Finance–Treasury § 31.560.427 Exportation, reexportation, sale or supply of financial services to Iran or the Government of Iran

Current as of January 02, 2025 | Updated by Findlaw Staff

(a) The prohibition on the exportation, reexportation, sale or supply of financial services to Iran or the Government of Iran contained in § 560.204 applies to:

(1) The transfer of funds, directly or indirectly, from the United States or by a U.S. person, wherever located, to Iran or the Government of Iran;  and

(2) The provision, directly or indirectly, to Iran or the Government of Iran of insurance services, investment or brokerage services (including but not limited to brokering or trading services regarding securities, debt, commodities, options, or foreign exchange), banking services, money remittance services;  loans, guarantees, letters of credit, or other extensions of credit;  or the service of selling or redeeming traveler's checks, money orders, and prepaid access products.

Note to paragraph (a) of § 560.427:  See § 560.516 of this part, which authorizes only United States depository institutions and United States registered brokers or dealers in securities to process certain transfers of funds to or from Iran.

(b) Pursuant to the prohibition in § 560.204 on the exportation, reexportation, sale or supply of financial services to Iran or the Government of Iran, United States depository institutions and United States registered brokers or dealers in securities are prohibited from performing services with respect to Iranian accounts, as defined in § 560.320.

Note to paragraph (b) of § 560.427:  See § 560.517 of this part for general licenses authorizing United States depository institutions and United States registered brokers or dealers in securities to operate Iranian accounts in certain limited circumstances.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 31. Money and Finance–Treasury § 31.560.427 Exportation, reexportation, sale or supply of financial services to Iran or the Government of Iran - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-31-money-and-finance-treasury/cfr-sect-31-560-427/

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