OFAC advises on wind down period for new Iran E.O.

Last week (10 January), the US signed into law Executive Order 13902 which provided for sanctions against the construction, mining, manufacturing, and textiles sectors of the Iranian economy. A new OFAC FAQ clarifies that those engaged in transactions with respect to these 4 sectors have 90 days from the issuance of the E.O. to wind down transactions (until 9 April …

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About Michael O'Kane

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Michael is Senior Partner at Peters & Peters LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters & Peters LLP...

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