AINF.org wishes to create a list of businesses who will offer their products and services to Iran and vice-versa once the political and legal environments are ratified.
Participation of businesses in this project is a promissing incentive for normalization; business partnership between two friendly nations will increase employment, tax income and reduce costly tensions. That is the economical environment that both nations desperately need.
Current U.S. economic sanctions on Iran prohibit most unlicensed transactions by U.S. persons or in the U.S. involving Iran. These sanctions, set forth in the Iranian Transactions Regulations, 31 C.F.R. Part 560 (the ITR), are administered and enforced by the Department of the Treasury’s Office of Foreign Assets Control (OFAC). See the OFAC website for a brochure describing the sanctions and for a link to the ITR.
OFAC has issued a Statement of Licensing Policy setting out the types of activities that they will consider licensing, including: conferences and training programs aimed at improving democracy and human rights; educational, sports and cultural exchanges; and independent media and environmental programs designed to directly benefit the Iranian people.
The USG encourages NGOs and other privately funded individuals/entities to apply to OFAC for a specific license to engage in the types of activities described in OFAC’s Statement of Licensing Policy. It is important to note that, while the USG supports these types of privately funded activities, each license application will be reviewed on a case-by-case basis.
Should you have any questions, please contact OFAC’s Licensing Division at (202) 622-2480
AINF encourages businesses from both countries to be in touch and be ready for the normalization of relations between two governments.