Knowingly engaged in a significant transaction for the sale, supply or transfer to or from Iran of significant goods or services in connection with the Sectors.Operating in the construction, mining, manufacturing or textile sectors of the Iranian economy (“Sectors”) and.13902, which, among other things, authorizes the Secretary of Treasury in consultation with the Secretary of State to block all property and interests in property of all persons: In January 2020, President Trump issued E.O. OFAC expects regulations to be promulgated consistent with these FAQs. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued four new Frequently Asked Questions (FAQs) related to Executive Order (E.O.) 13902, “Imposing Sanctions With Respect to Additional Sectors of Iran.” The FAQs address the manufacture of medicines, medical equipment and sanitation products in Iran, the scope of sectors targeted in Iran, the definition of “goods or services used in connection with” those sectors, and how the terms “knowingly” and “significant” will be interpreted.
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