Licensing Policy Update under Operation Economic Outcast

OFAC’s Iran-related specific licensing policy has been modified in furtherance of the U.S. Department of the Treasury-led Operation Economic Outcast. Effective immediately, OFAC is considering Iran-related specific license applications with a presumption of denial except as required by law or in certain circumstances, such as risk to life, limb, or environmental safety. Applicants are encouraged to subscribe to OFAC Recent Actions for further updates.

The modified policy document: