Rule on Humanitarian Assistance to Iran and OFAC Issues Humanitarian Trade Mechanism

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Thursday, October 31, 2019
Author: 
Bruce Zagaris
Volume: 
35
Issue: 
11
Abstract: 

On October 25, 2019, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) identified Iran as a jurisdiction of primary money laundering concern under Section 311 and issued a new rule to protect the U.S. financial system from malign Iranian financial activities.  Concurrently, the U.S. Departments of the Treasury and State announced a new mechanism to limit humanitarian trade with Iran.