Report No.6: Census of Blocked Iraqi Government Assets and Claims Against Iraq and Iraqi Government Entities

This morning the Office of Foreign Assets Control ("OFAC") issued new regulations amending the Iraqi Sanctions Regulations. The new regulations require a census of blocked assets of the Government of Iraq and a census of claims against the Government of Iraq. (For background on the Iraqi Sanctions Regulations, see our Report No. 5). The amendments, effective immediately, require that certain reports on forms to be filed with respect to (1) blocked Iraqi assets held by any U.S. persons on or after 5:00 a.m. EDT, August 2, 1990, and (2) claims held by U.S. nationals against the Government of Iraq as of 5:00 p.m. EST, January 16, 1991.