[Federal Register: April 26, 1999 (Volume 64, Number 79)]
[Rules and Regulations]
[Page 20168-20176]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr26ap99-21]=======================================================================
-----------------------------------------------------------------------DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 560
Iranian Transactions Regulations: Implementation of Executive
Order 13059AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Final rule; amendment.
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SUMMARY: The Office of Foreign Assets Control of the U.S. Department of
the Treasury is amending the Iranian Transactions Regulations to
implement Executive Order 13059, which clarifies the steps taken in
Executive Orders 12957 and 12959 with respect to the declaration of
national emergency and imposition of new and additional sanctions
against Iran.EFFECTIVE DATE: April 26, 1999.
FOR FURTHER INFORMATION CONTACT: Regarding the issuance of licenses,
Steven I. Pinter, Chief, Licensing Division (tel.: 202/622-2480);
regarding banking and compliance questions, Dennis P. Wood, Chief,
Compliance Programs Division (tel.: 202/622-2490); regarding Iranian
government entities, J. Robert McBrien, Chief, International Programs
Division (tel.: 202/622-2420); regarding legal questions, William B.
Hoffman, Chief Counsel (tel.: 202/622-2410), Office of Foreign Assets
Control, Department of the Treasury, Washington, DC 20220.SUPPLEMENTARY INFORMATION:
Electronic and Facsimile Availability
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For Internet access, the address for use with the World Wide Web (Home
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Treasury's Electronic Library (``TEL'') in the ``Research Mall'' of the
FedWorld bulletin board. By modem, dial 703/321-3339, and select self-
expanding file ``T11FR00.EXE'' in TEL. For Internet access, use one of
the following protocols: Telnet = fedworld.gov (192.239.93.3); World
Wide Web (Home Page) = http://www.fedworld.gov; FTP = ftp.fedworld.gov
(192.239.92.205). Additional information concerning the programs of the
Office of Foreign Assets Control is available for downloading from the
Office's Internet Home Page: http://www.treas.gov/ofac, or in fax form
through the Office's 24-hour fax-on-demand service: call 202/622-0077
using a fax machine, fax modem, or (within the United States) a touch-
tone telephone.Background
In Executive Order 12957 of March 15, 1995 (60 FR 14615, March 17,
1995), President Clinton declared a national emergency with respect to
the actions and policies of the Government of Iran and imposed
sanctions against Iran supplementing those imposed in 1987, invoking
the authority, inter alia, of the International Emergency Economic
Powers Act, 50 U.S.C. 1701-06 (``IEEPA''). The President substantially
supplemented and amended those sanctions in Executive Order 12959 of
May 6, 1995 (60 FR 24757, May 9, 1995). In implementation of these
orders, the Office of Foreign Assets Control (``OFAC'') amended the
Iranian Transactions Regulations in September 1995 (the
``Regulations'') (60 FR 47061, September 11, 1995).
In Executive Order 13059 of August 19, 1997 (62 FR 44531, August
21, 1997), the President clarified the steps taken with respect to the
national emergency declared in Executive Order 12957 and expanded in
Executive Order 12959. In implementation of these orders, OFAC is
amending the Regulations.
Section 560.201 continues the prohibition on the importation into
the United States of goods or services of Iranian origin but indicates
that this includes goods or services owned or controlled by the
Government of Iran. Section 560.201 also conforms the exemption for
information and informational materials for import purposes to that
applicable under IEEPA for all other purposes.
Section 560.204 is revised to provide that any exportation,
reexportation, sale or supply of goods to Iran or the Government of
Iran from the United States, or by a U.S. person wherever located, is
prohibited. This includes any exportation, reexportation, sale or
supply of goods, services or technology from the United States or by a
U.S. person in a third country undertaken with knowledge or reason to
know that such goods, services or technology are intended specifically
for supply, transshipment or reexportation, directly or indirectly, to
Iran or the Government of Iran. Similarly, Sec. 560.204 prohibits any
exportation, reexportation, sale or supply of goods, services or
technology[[Page 20169]]
intended specifically for use in the production of, for commingling
with, or for incorporation into goods, technology or services to be
supplied, transshipped or reexported exclusively or predominantly to
Iran or the Government of Iran.
Section 560.205 is amended to clarify that a person other than a
U.S. person is prohibited from knowingly reexporting U.S.-origin goods,
technology and services to Iran or the Government of Iran if those
goods, services or technology are subject to written license
application requirements by any U.S. Government agency imposed
independently of part 560, unless such U.S.-origin items have been
substantially transformed into a foreign-made product or the U.S.-
origin content meets the de minimis standard in that section. U.S.
persons remain subject to the prohibitions in Sec. 560.204, regardless
of the origin or type of item or the country from which it is shipped.
Section 560.206 amends the rules relating to dealings in goods or
services of Iranian origin or owned or controlled by the Government in
Iran and concerning dealings in goods, technology or services for
exportation, reexportation, sale or supply to Iran or the Government of
Iran. Section 560.208 is amended to provide that the approval,
facilitation, financing or guarantee by a U.S. person of any Iran-
related transaction by a foreign person is not permitted if the
transaction by the foreign person would be prohibited by this part if
performed by a U.S. person or within the United States. In addition,
Secs. 560.210(c) and (d) are amended to clarify rules relating to
informational materials and travel.
The effective dates of the prohibitions in this part are set out in
Sec. 560.301. Section 560.306 is revised to clarify the definitions of
the terms goods of Iranian origin and goods or services owned or
controlled by the Government of Iran. The definition of United States
depositary institution in Sec. 560.319 is revised to remove reference
to certain activities of banks that might draw into the definition non-
banking businesses that are not subject to federal or state regulation
as banks. Certain other revisions to existing definitions are made to
subpart C.
In subpart D, certain existing interpretive provisions are revised
and new interpretive sections are added. Section 560.403 is added to
make clear that the prohibitions in Secs. 560.204, 560.206 and 560.208
apply to export, reexport or supply transactions which require a
transshipment or transit of goods or technology through Iran to third
countries. Section 560.406 is revised to indicate that the prohibition
on importation in Sec. 560.201 includes, among other things,
importation into the United States, for transshipment or transit, of
goods owned or controlled by the Government of Iran destined for third
countries, and the prohibition on exportation in Sec. 560.204 includes,
among other things, the exportation from the United States, for
transshipment or transit, of goods intended or destined for the
Government of Iran, including entities owned or controlled by the
Government of Iran. Section 560.410 is revised to clarify the term
exportation or supply of services. Section 560.412 on extensions of
credit to Iran is amended to add a reference to standby letters of
credit. Section 560.414, which relates to reexportation of U.S.-origin
goods or technology, is amended to provide interpretation with respect
to Sec. 560.205.
Section 560.416 is added to provide examples of prohibited
brokering services. Section 560.417 on facilitation of transactions is
added to replace Sec. 560.516(d), which is removed. Section 560.418 is
added to deal with the release of technology to Iran or the Government
of Iran that may violate this part, and transfers of technology to
foreign nationals, including Iranian nationals, that may implicate
rules administered by the U.S. Department of State, the U.S. Department
of Commerce, or other agencies of the U.S. Government. Section 560.419
is added to deal with issues related to the U.S. employment of persons
normally located in Iran. Section 560.420 is added to interpret the de
minimis content rules contained in Sec. 560.205, which apply to
reexportations by foreign persons.
In subpart E, Sec. 560.501(d) is added to explain that specific
licenses issued pursuant to Executive Orders 12613, 12957 or 12959
continue in effect in accordance with their terms except to the extent
revoked, amended, or modified by the Office of Foreign Assets Control.
Section 560.501(e) provides that certain exports, reexports or
transfers of goods, technology, or services, or the direct products of
technology, which are not prohibited by this part and which do not
require authorization by OFAC, may nonetheless require authorization by
the U.S. Department of Commerce, the U.S. Department of State or other
agencies of the U.S. Government. Section 560.505 is amended to deal
with activities taken in connection with certain visa categories.
Section 560.509 is amended to clarify that the general license
relating to protection of patents, trademarks and copyrights extends to
the importation of Iranian-origin services, payment for such services,
and payment to persons in Iran in connection with such intellectual
property protection.
Section 560.511 is added to create an ``insubstantial content''
exception to the prohibitions in Sec. 560.204. As noted, Sec. 560.204
prohibits the knowing exportation, reexportation, sale or supply of
goods, services or technology from the United States, or by U.S.
persons wherever located, to third countries for incorporation or
substantial transformation into items destined for Iran or the
Government of Iran. Section 560.511 creates an exception to this rule,
authorizing such ``knowing'' supply by U.S. persons or from the United
States under certain circumstances: Such ``knowing'' supply is
authorized under Sec. 560.511 when (1) the items being exported,
reexported or supplied for substantial transformation or incorporation
abroad do not require authorization for exportation or reexportation by
another agency of the U.S. Government; (2) the U.S.-origin items do not
exceed the content levels specified in Sec. 560.511(a)(2); (3) the
foreign-made end product is not destined to end uses or end users
prohibited under regulations administered by other U.S. Government
agencies (Sec. 560.511(d)); and (4) the foreign-made end product is not
intended for use in the Iranian petroleum or petrochemical industry
(Sec. 560.511(e)). The authorization in Sec. 560.511(a) is not
available if the foreign-made end product is of a type which other U.S.
Government agencies make ineligible for de minimis U.S.-origin content.
More generally, export control rules administered by other agencies of
the U.S. Government may prohibit an exportation or supply otherwise
authorized by Sec. 560.511.
A general license is added in Sec. 560.529 to authorize the
provision of goods or services in the United States to a non-Iranian
carrier transporting passengers or goods to or from Iran if they are
bunkers or bunkering services, are supplied in the course of emergency
repairs, or are supplied under circumstances which could not be
anticipated prior to the carrier's departure for the United States.
Technical changes or new text also appear at the following
sections, among others: Secs. 560.207, 560.308, 560.315, 560.412,
560.506, 560.515, 560.516, and 560.523. The prior Sec. 560.411
concerning offshore transactions in Iranian-origin goods and services
has been removed and reserved because its content, as modified to
accord with Executive Order 13059, is covered in Sec. 560.206.[[Page 20170]]
Section 560.318 is removed and reserved.
An appendix is added to provide the names of financial institutions
deemed by OFAC to be entities owned or controlled by the Government of
Iran. This list, with minor modifications, duplicates the list
promulgated as an annex to General License No. 3 on June 6, 1995 (see
60 FR 40883, August 10, 1995).
Because the Regulations involve a foreign affairs function,
Executive Order 12866 and the provisions of the Administrative
Procedure Act (5 U.S.C. 553) requiring notice of proposed rulemaking,
opportunity for public participation, and delay in effective date, are
inapplicable. Because no notice of proposed rulemaking is required for
this rule, the Regulatory Flexibility Act (5 U.S.C. 601-612) does not
apply.List of Subjects in 31 CFR Part 560
Administrative practice and procedure, Agricultural commodities,
Banks, banking, Exports, Foreign trade, Imports, Information,
Investments, Iran, Loans, Penalties, Reporting and recordkeeping
requirements, Services, Specially designated nationals, Terrorism,
Transportation.For the reasons set forth in the preamble, 31 CFR part 560 is
amended as follows:PART 560--IRANIAN TRANSACTIONS REGULATIONS
1. The authority citation continues to read as follows:
Authority: 3 U.S.C. 301; 18 U.S.C. 2332d; 22 U.S.C. 2349aa-9; 31
U.S.C. 321(b); 50 U.S.C. 1601-1651, 1701-1706; Pub. L. 101-410, 104
Stat. 890 (28 U.S.C. 2461 note); E.O. 12613, 52 FR 41940, 3 CFR,
1987 Comp., p. 256; E.O. 12957, 60 FR 14615, 3 CFR, 1995 Comp., p.
332; E.O. 12959, 60 FR 24757, 3 CFR, 1995 Comp., p. 356; E.O. 13059,
62 FR 44531, 3 CFR, 1997 Comp., p. 217.Subpart B--Prohibitions
2. Section 560.201 is revised to read as follows:
Sec. 560.201 Prohibited importation of goods or services from Iran.
Except as otherwise authorized pursuant to this part, and
notwithstanding any contract entered into or any license or permit
granted prior to May 7, 1995, the importation into the United States of
any goods or services of Iranian origin or owned or controlled by the
Government of Iran, other than information and informational materials
within the meaning of section 203(b)(3) of the International Emergency
Economic Powers Act (50 U.S.C. 1702(b)(3)), is prohibited.3. Section 560.204 is revised to read as follows:
Sec. 560.204 Prohibited exportation, reexportation, sale or supply of
goods, technology, or services to Iran.Except as otherwise authorized pursuant to this part, including
Sec. 560.511, and notwithstanding any contract entered into or any
license or permit granted prior to May 7, 1995, the exportation,
reexportation, sale, or supply, directly or indirectly, from the United
States, or by a United States person, wherever located, of any goods,
technology, or services to Iran or the Government of Iran is
prohibited, including the exportation, reexportation, sale, or supply
of any goods, technology, or services to a person in a third country
undertaken with knowledge or reason to know that:
(a) Such goods, technology, or services are intended specifically
for supply, transshipment, or reexportation, directly or indirectly, to
Iran or the Government of Iran; or
(b) Such goods, technology, or services are intended specifically
for use in the production of, for commingling with, or for
incorporation into goods, technology, or services to be directly or
indirectly supplied, transshipped, or reexported exclusively or
predominantly to Iran or the Government of Iran.4. Section 560.205 is revised to read as follows:
Sec. 560.205 Prohibited reexportation of goods, technology or services
to Iran or the Government of Iran by persons other than United States
persons; exceptions.(a) Except as otherwise authorized pursuant to this part, and
notwithstanding any contract entered into or any license or permit
granted prior to May 7, 1995, the reexportation from a third country,
directly or indirectly, by a person other than a United States person,
of any goods, technology or services that have been exported from the
United States is prohibited, if:
(1) Undertaken with knowledge or reason to know that the
reexportation is intended specifically for Iran or the Government of
Iran; and
(2) The exportation of such goods, technology, or services from the
United States to Iran was subject to export license application
requirements under any United States regulations in effect on May 6,
1995, or thereafter is made subject to such requirements imposed
independently of this part (see Sec. 560.414).
(b) The prohibitions of paragraph (a) of this section shall not
apply to those goods or that technology subject to export license
application requirements if such goods or technology have been:
(1) Substantially transformed into a foreign-made product outside
the United States; or
(2) Incorporated into a foreign-made product outside the United
States if the aggregate value of such goods and technology described in
paragraph (a)(2) of this section constitutes less than 10 percent of
the total value of the foreign-made product to be exported from a third
country (see Sec. 560.420).
(c) Reexportation by United States persons or from the United
States is governed by other sections in this part, including
Secs. 560.204 and 560.206.
Note to Sec. 560.205. The reexportation of U.S.-origin goods or
technology, including U.S.-origin goods or technology that have been
incorporated or substantially transformed into a foreign-made
product, not prohibited by this section, may require authorization
by the U.S. Department of Commerce under the Export Administration
Regulations (15 CFR parts 740-774) or by the U.S. State Department
under the International Traffic in Arms Regulations (22 CFR 123.9).5. Section 560.206 is revised to read as follows:
Sec. 560.206 Prohibited trade-related transactions with Iran; goods,
technology, or services.(a) Except as otherwise authorized pursuant to this part, and
notwithstanding any contract entered into or any license or permit
granted prior to May 7, 1995, no United States person, wherever
located, may engage in any transaction or dealing in or related to:
(1) Goods or services of Iranian origin or owned or controlled by
the Government of Iran; or
(2) Goods, technology, or services for exportation, reexportation,
sale or supply, directly or indirectly, to Iran or the Government of
Iran.
(b) For purposes of paragraph (a) of this section, the term
transaction or dealing includes but is not limited to purchasing,
selling, transporting, swapping, brokering, approving, financing,
facilitating, or guaranteeing.6. Section 560.207 is revised to read as follows:
Sec. 560.207 Prohibited investment.
Except as otherwise authorized pursuant to this part, and
notwithstanding any contract entered into or any license or permit
granted prior to May 7, 1995, any new[[Page 20171]]
investment by a United States person in Iran or in property (including
entities) owned or controlled by the Government of Iran is prohibited.7. Section 560.208 is revised to read as follows:
Sec. 560.208 Prohibited facilitation by United States persons of
transactions by foreign persons.Except as otherwise authorized pursuant to this part, and
notwithstanding any contract entered into or any license or permit
granted prior to May 7, 1995, no United States person, wherever
located, may approve, finance, facilitate, or guarantee any transaction
by a foreign person where the transaction by that foreign person would
be prohibited by this part if performed by a United States person or
within the United States.8. Paragraphs (c) and (d) of Sec. 560.210 are revised to read as
follows:Sec. 560.210 Exempt transactions.
* * * * *
(c) Information and informational materials. (1) The importation
from any country and the exportation to any country of information and
informational materials as defined in Sec. 560.315, whether commercial
or otherwise, regardless of format or medium of transmission, are
exempt from the prohibitions and regulations of this part.
(2) This section does not exempt from regulation or authorize
transactions related to information and informational materials not
fully created and in existence at the date of the transactions, or to
the substantive or artistic alteration or enhancement of informational
materials, or to the provision of marketing and business consulting
services. Transactions that are prohibited notwithstanding this section
include, but are not limited to, payment of advances for information
and informational materials not yet created and completed (with the
exception of prepaid subscriptions for widely circulated magazines and
other periodical publications), provision of services to market,
produce or co-produce, create or assist in the creation of information
and informational materials, and payment of royalties to persons in
Iran or to the Government of Iran.
(3) This section does not exempt from regulation or authorize
transactions incident to the exportation of software subject to the
Export Administration Regulations (15 CFR parts 730-774).
(4) This section does not exempt from regulation or authorize the
exportation of goods (including software) or technology or the sale or
leasing of telecommunications transmission facilities (such as
satellite links or dedicated lines) where such exportation, sale or
leasing is for use in the transmission of any data.
(d) Travel. The prohibitions contained in this part do not apply to
transactions ordinarily incident to travel to or from any country,
including importation of accompanied baggage for personal use,
maintenance within any country including payment of living expenses and
acquisition of goods or services for personal use, and arrangement or
facilitation of such travel including nonscheduled air, sea, or land
voyages. This exemption extends to transactions with Iranian carriers
and those involving group tours and payments in Iran made for
transactions directly incident to travel.
* * * * *Subpart C--Definitions
9. Section 560.301 is revised to read as follows:
Sec. 560.301 Effective date.
The effective date of the prohibitions and directives contained in
subpart B of this part is 12:01 a.m., Eastern Daylight Time, August 20,
1997. For the effective date of pre-existing regulations and
directives, see the Executive orders in the Authority citation for this
part and implementing regulations.10. Section 560.306 is revised to read as follows:
Sec. 560.306 Iranian-origin goods or services; Goods or services owned
or controlled by the Government of Iran.(a) The terms goods of Iranian origin and Iranian-origin goods
include:
(1) Goods grown, produced, manufactured, extracted, or processed in
Iran; and
(2) Goods which have entered into Iranian commerce.
(b) The terms services of Iranian origin and Iranian-origin
services include:
(1) Services performed in Iran or by an entity organized under the
laws of Iran, or a person residing in Iran; and
(2) Services performed outside Iran by a citizen, national or
permanent resident of Iran who is ordinarily resident in Iran, or by an
entity organized under the laws of Iran.
(c) The term goods or services owned or controlled by the
Government of Iran includes:
(1) Goods grown, produced, manufactured, extracted or processed by
the Government of Iran or goods in its possession or control; and
(2) Services performed by the Government of Iran.
(d) The terms services of Iranian-origin, Iranian-origin services,
and services owned or controlled by the Government of Iran do not
include:
(1) Diplomatic and consular services performed by or on behalf of
the Government of Iran;
(2) Diplomatic and consular services performed by or on behalf of
the Government of the United States; or
(3) Services performed outside Iran by an Iranian citizen or
national who is resident in the United States or a third country,
provided such services are not performed by or on behalf of the
Government of Iran (other than diplomatic and consular services), an
entity organized under the laws of Iran, or a person located in Iran.11. Section 560.308 is revised to read as follows:
Sec. 560.308 Importation of goods.
With respect to goods (including software), the term importation
means the bringing of any goods into the United States, except that in
the case of goods transported by vessel, importation means the bringing
of any goods into the United States with the intent to unlade them.12. Section 560.315 is amended to revise the section heading and
paragraphs (a) introductory text, (b) introductory text, and (b)(1) to
read as follows:Sec. 560.315 Information and informational materials.
(a) The term information and informational materials includes:
* * * * *
(b) The term information and informational materials, with respect
to exports, does not include items:
(1) That were, as of April 30, 1994, or that thereafter become,
controlled for export pursuant to section 5 of the Export
Administration Act of 1979 (50 U.S.C. App. 2401-2420, the ``EAA''), or
section 6 of the EAA to the extent that such controls promote the
nonproliferation or antiterrorism policies of the United States; or
* * * * *Sec. 560.318 [Removed and reserved]
13. Section 560.318 is removed and reserved.
14. Section 559.319 is revised to read as follows:
Sec. 560.319 United States depository institution.
The term United States depository institution means any entity
(including[[Page 20172]]
its foreign branches) organized under the laws of any jurisdiction
within the United States, or any agency, office or branch located in
the United States of a foreign entity, that is engaged primarily in the
business of banking (for example, banks, savings banks, savings
associations, credit unions, trust companies and United States bank
holding companies).Subpart D--Interpretations
15. Section 560.403 is added to subpart D to read as follows:
Sec. 560.403 Transshipment through Iran.
The prohibitions in Secs. 560.204, 560.206 and 560.208 apply to
export, reexport or supply transactions which require a transshipment
or transit of goods or technology through Iran to third countries.16. Section 560.406 is revised to read as follows:
Sec. 560.406 Transshipment or transit through United States
prohibited.(a) The prohibitions in Sec. 560.201 apply to the importation into
the United States, for transshipment or transit, of Iranian-origin
goods or goods owned or controlled by the Government of Iran which are
intended or destined for third countries.
(b) The prohibitions in Sec. 560.204 apply to the transshipment or
transit of foreign goods through the United States which are intended
or destined for Iran or the Government of Iran, including entities
owned or controlled by the Government of Iran.17. Section 560.410 is revised to read as follows:
Sec. 560.410 Exportation, reexportation, sale or supply of services.
(a) The prohibition on the exportation, reexportation, sale or
supply of services contained in Sec. 560.204 applies to services
performed on behalf of a person in Iran or the Government of Iran or
where the benefit of such services is otherwise received in Iran, if
such services are performed:
(1) In the United States, or
(2) Outside the United States by a United States person, including
by an overseas branch of an entity located in the United States.
(b) The benefit of services performed anywhere in the world on
behalf of the Government of Iran is presumed to be received in Iran.
(c) Example. A United States person is engaged in a prohibited
exportation of services to Iran when it extends credit to a third-
country firm specifically to enable that firm to manufacture goods for
sale to Iran or for an entity of the Government of Iran. See also
Sec. 560.416.Sec. 560.411 [Removed and reserved]
18. Section 560.411 is removed and reserved.
19. Section 560.412 is revised to read as follows:
Sec. 560.412 Extensions of credit or loans to Iran.
(a) The prohibitions contained in Secs. 560.204 and 560.207 apply
to but are not limited to the unauthorized renewal or rescheduling of
credits or loans in existence as of May 6, 1995, such as the extension
of a standby letter of credit.
(b) The prohibitions contained in Sec. 560.209 apply, among other
things, to the unauthorized renewal or rescheduling of credits or loans
in existence as of March 15, 1995.
(c) The prohibitions contained in Secs. 560.204, 560.207 and
560.209 apply to, among other things, credits or loans in any currency.20. Section 560.414 is revised to read as follows:
Sec. 560.414 Reexportation of certain U.S.-origin goods exported prior
to May 7, 1995.The prohibitions on reexportation in Sec. 560.205 do not apply to
United States-origin goods or technology that were exported from the
United States prior to 12:01 a.m., Eastern Daylight Time, May 7, 1995,
if:
(a) Such goods or technology were not the property of a United
States person as of 12:01 a.m. Eastern Daylight Time, May 7, 1995; and
(b) The reexportation of the U.S.-origin goods or technology to
Iran or the Government of Iran was not subject to reexport (as opposed
to export) license application requirements under U.S. regulations in
effect prior to May 6, 1995.
Notes to Sec. 560.414.
1. The exclusion in this section applies, among other things, to
goods that were as of May 6, 1995, classified under the U.S.
Department of Commerce's Export Administration Regulations (15 CFR
parts 730-774) as ECCNs 2A994; 3A993; 5A992; 5A995; 6A990; 6A994;
7A994; 8A992; 8A994; 9A990; 9A992; and 9A994, that were exported
from the United States prior to 12:01 a.m. Eastern Daylight Time,
May 7, 1995, and were not the property of a United States person as
of 12:01 a.m. Eastern Daylight Time, May 7, 1995. As of April 26,
1999, items covered by this note are classified under ECCNs 2A994;
3A992.a; 5A991.f; 5A992; 6A991; 6A998; 7A994; 8A992.d, .e, .f and
.g; 9A990.a and .b; and 9A991.d and .e.
2. A reexportation of U.S.-origin goods or technology which
meets the conditions of paragraph (a) of this section, or which is
not within the scope of Sec. 560.205, nevertheless may require
specific authorization by other agencies of the U.S. Government for
reexportation to Iran or the Government of Iran. For example, items
which meet the conditions of paragraph (a) may nevertheless require
an export license under the Enhanced Proliferation Control
Initiative provisions of the Export Administration Regulations (15
CFR part 744).21. Section 560.416 is added to subpart D to read as follows:
Sec. 560.416. Brokering services.
(a) For purposes of the prohibitions in Secs. 560.201, 560.204,
560.205, 560.206 and 560.208, the term services includes performing a
brokering function.
(b) Examples. A person within the United States, or a United States
person, wherever located, may not:
(1) Act as broker for the provision of goods, services or
technology, from whatever source, to or from Iran or the Government of
Iran;
(2) Act as broker for the purchase or swap of crude oil of Iranian
origin or owned or controlled by the Government of Iran;
(3) Act as broker for the provision of financing, a financial
guarantee or an extension of credit by any person to Iran or the
Government of Iran;
(4) Act as a broker for the provision of financing, a financial
guarantee or an extension of credit to any person specifically to
enable that person to construct or operate a facility in Iran or owned
or controlled by the Government of Iran; or
(5) Act as a broker for the provision of financing, a financial
guarantee, or an extension of credit to any person specifically to
enable that person to provide goods, services, or technology intended
for Iran or the Government of Iran.22. Section 560.417 is added to subpart D to read as follows:
Sec. 560.417 Facilitation; change of policies and procedures; referral
of business opportunities offshore.With respect to Sec. 560.208, a prohibited facilitation or approval
of a transaction by a foreign person occurs, among other instances,
when a United States person:
(a) Alters its operating policies or procedures, or those of a
foreign affiliate, to permit a foreign affiliate to accept or perform a
specific contract, engagement or transaction involving Iran or the
Government of Iran without the approval of the United States person,
where such transaction previously required approval by the United
States person and such transaction by the foreign affiliate would be
prohibited by this part if[[Page 20173]]
performed directly by a United States person or from the United States;
(b) Refers to a foreign person purchase orders, requests for bids,
or similar business opportunities involving Iran or the Government of
Iran to which the United States person could not directly respond as a
result of the prohibitions contained in this part; or
(c) Changes the operating policies and procedures of a particular
affiliate with the specific purpose of facilitating transactions that
would be prohibited by this part if performed by a United States person
or from the United States.23. Section 560.418 is added to subpart D to read as follows:
Sec. 560.418 Release of technology or software in the United States or
a third country.The release of technology or software in the United States, or by a
United States person wherever located, to any person violates the
prohibitions of this part if made with knowledge or reason to know the
technology is intended for Iran or the Government of Iran, unless that
technology or software meets the definition of information and
informational materials in Sec. 560.315. See Sec. 560.511.
Notes to Sec. 560.418.
1. The U.S. Department of Commerce's Bureau of Export
Administration requires a license for the release in the United
States (or in a third country) to a foreign national of technology
if both of the following conditions are met:
(a) That technology would require a license for exportation (or
reexportation) to the home country of the foreign national; and
(b) The foreign national is not a citizen or permanent resident
of the United States (or of the third country) or is not a protected
individual under the Immigration and Naturalization Act (8 U.S.C.
Sec. 1324(b)(a)(3)). See 15 CFR 734.2(b)(2)(ii) and 734.2(b)(5).
2. The transfer to a foreign national of technology subject to
regulations administered by the U.S. Department of State or other
agencies of the U.S. Government may require authorization by those
agencies.24. Section 560.419 is added to subpart D to read as follows:
Sec. 560.419 U.S. employment of persons normally located in Iran.
The prohibitions in Sec. 560.201 make it unlawful to hire an
Iranian national normally located in Iran to come to the United States
solely or for the principal purpose of engaging in employment on behalf
of an entity in Iran or as the employee of a U.S. person, unless that
employment is authorized pursuant to a visa issued by the U.S. State
Department or by Sec. 560.505. See also Sec. 560.418 with respect to
the release of technology and software.25. Section 560.420 is added to subpart D to read as follows:
Sec. 560.420 Reexportation by non-U.S. persons of certain foreign-made
products containing U.S.-origin goods or technology.For purposes of satisfying the de minimis content rule in
Sec. 560.205(b)(2):
(a) U.S.-origin goods (excluding software) falling within the
definition in Sec. 560.205 must comprise less than 10 percent of the
foreign-made good (excluding software);
(b) U.S.-origin software falling within the definition in
Sec. 560.205 must comprise less than 10 percent of the foreign-made
software;
(c) U.S.-origin technology falling within the definition in
Sec. 560.205 must comprise less than 10 percent of the foreign-made
technology; and,
(d) In cases involving a complex product made of a combination of
U.S.-origin goods (including software) and technology falling within
the definition in Sec. 560.205, the aggregate value of all such U.S.-
origin goods (including software) and such technology contained in the
foreign-made product must be less than 10 percent of the total value of
the foreign-made product.
Notes to Sec. 560.420.
1. Notwithstanding the exceptions contained in
Sec. 560.205(b)(1) and (b)(2) and this section, a reexportation to
Iran or the Government of Iran of U.S.-origin items falling within
the definition in Sec. 560.205 is prohibited if those U.S.-origin
goods (including software) or that technology have been
substantially transformed or incorporated into a foreign-made end
product which is destined to end uses or end users prohibited under
regulations administered by other U.S. Government agencies. See,
e.g., the Export Administration Regulations (31 CFR 736.2(b)(5),
744.2, 744.3, 744.4, 744.7, and 744.10); International Traffic in
Arms Regulations (22 CFR 123.9).
2. A reexportation not prohibited by Sec. 560.205 may
nevertheless require authorization by the U.S. Department of
Commerce, the U.S. Department of State or other agencies of the U.S.
Government.
3. The provisions of Sec. 560.205 and this section apply only to
persons other than United States persons.Subpart E--Licenses, Authorizations and Statements of Licensing
Policy26. Section 560.501 is amended by adding paragraphs (d) and (e) to
read as follows:Sec. 560.501 Effect of license or authorization.
* * * * *
(d) Specific licenses issued prior to 12:01 a.m., Eastern Daylight
Time, August 20, 1997, continue in effect in accordance with their
terms except to the extent specifically revoked, amended, or modified
by the Office of Foreign Assets Control.
(e) Nothing contained in this part shall be construed to supersede
the requirements established under any other provision of law or to
relieve a person from any requirement to obtain a license or other
authorization from another department or agency of the U.S. Government
in compliance with applicable laws and regulations subject to the
jurisdiction of that department or agency. For example, exports of
goods, services, or technical data which are not prohibited by this
part or which do not require a license by the Office of Foreign Assets
Control, nevertheless may require authorization by the U.S. Department
of Commerce, the U.S. Department of State or other agencies of the U.S.
Government. See also Sec. 560.701(d).27. Section 560.505 is revised to read as follows:
Sec. 560.505 Importation of certain Iranian-origin services authorized; activities related to certain visa categories authorized. (a) The importation of Iranian-origin services into the United States or other dealing in such services is authorized where such services are performed in the United States by an Iranian citizen or national for the purpose of, or which directly relate to, participating in a public conference, performance, exhibition or similar event, and such services are consistent with that purpose. (b) Persons otherwise qualified for a non-immigrant visa under categories A-3 and G-5 (attendants, servants and personal employees of aliens in the United States on diplomatic status), D (crewmen), F (students), I (information media representatives), J (exchange visitors), M (non-academic students), O and P (aliens with extraordinary ability, athletes, artists and entertainers), Q (international cultural exchange visitors), R (religious workers), or S (witnesses) are authorized to carry out in the United States those activities for which such a visa has been granted by the U.S. State Department. (c) Persons otherwise qualified for a visa under categories E-2 (treaty investor), H-1b (temporary worker), or L (intra-company transferee) and all immigrant visa categories are authorized to carry out in the United States those activities for which such a visa has been granted by the U.S. State Department, provided that the persons are not coming to the United States to work as an agent, employee or contractor of the Government of Iran or a business entity or other organization in Iran.
[[Page 20174]]
28. Section 560.506 is revised to read as follows:
Sec. 560.506 Importation and exportation of certain gifts authorized.
The importation into the United States of Iranian-origin goods from
Iran or a third country, and the exportation from the United States to
Iran of goods, are authorized for goods sent as gifts to persons
provided that the value of the gift is not more than $100; the goods
are of a type and in quantities normally given as gifts between
individuals; and the goods are not controlled for chemical and
biological weapons (CB), missile technology (MT), national security
(NS), or nuclear proliferation (NP). See Commerce Control List, Export
Administration Regulations (15 CFR part 774).29. Section 560.509 is amended by revising paragraph (a)(1) as
follows:Sec. 560.509 Certain transactions related to patents, trademarks and
copyrights authorized.(a) * * *
(1) The filing and prosecution of any application to obtain a
patent, trademark, copyright or other form of intellectual property
protection, including importation of or dealing in Iranian-origin
services, payment for such services, and payment to persons in Iran
directly connected to such intellectual property protection;
* * * * *30. Section 560.511 is added to read as follows:
Sec. 560.511 Exportation or supply of insubstantial United States
content for use in foreign-made products or technology.(a) Except as provided in paragraph (b) of this section and
notwithstanding the prohibitions in Sec. 560.204, the exportation or
supply of goods or technology from the United States, or by a United
States person wherever located, for substantial transformation or
incorporation into a foreign-made end product in a country other than
the United States or Iran, intended specifically or predominantly for
Iran or the Government of Iran, is permitted under this part where the
exporter has ascertained that all of the following are the case:
(1) The U.S.-origin goods or technology being exported for
substantial transformation or incorporation abroad were not subject to
export license application requirements under any United States
regulations in effect on May 6, 1995, or were not thereafter made
subject to such regulations imposed independently of this part;
(2) With respect to the foreign-made end product:
(i) U.S.-origin goods (excluding software) comprise less than 10
percent of the foreign-made good (excluding software);
(ii) U.S.-origin software comprises less than 10 percent of the
foreign-made software;
(iii) U.S.-origin technology comprises less than 10 percent of the
foreign-made technology; and
(iv) In cases involving a complex product made of a combination of
goods (including software) and technology, the aggregate value of all
U.S.-origin goods (including software) and technology contained in the
foreign-made end product is less than 10 percent of the total value of
the foreign-made product;
(3) The foreign-made end product is not destined to end uses or end
users prohibited under regulations administered by other U.S.
Government agencies. See, e.g., the Export Administration Regulations
(31 CFR 736.2(b)(5), 744.2, 744.3, 744.4, 744.7, and 744.10);
International Traffic in Arms Regulations (22 CFR 123.9);
(4) The foreign-made end product is not intended for use in the
Iranian petroleum or petrochemical industry. For this purpose, products
intended for use in the Iranian petroleum or petrochemical industry
include not only products uniquely suited for use in those industries,
such as oilfield services equipment, but also goods and technology for
use in products, such as computers, office equipment, construction
equipment, or building materials, which are suitable for use in other
industries but which are intended specifically for use in the petroleum
or petrochemical industries.
(b) The authorization contained in this section is not available if
the foreign-made end product is of a type which other U.S. Government
agencies make ineligible for de minimis U.S.-origin content. See, e.g.,
the Export Administration Regulations (15 CFR 734.4(a) and (b));
International Traffic in Arms Regulations (22 CFR 123.9).
Note to Sec. 560.511. An exportation authorized by this section
may nevertheless require authorization by the U.S. Department of
Commerce, the U.S. Department of State or other agencies of the U.S.
Government.31. Paragraph (d) of Sec. 560.515 removed, and paragraph (a) is
revised to read as follows:Sec. 560.515 30-day delayed effective date for pre-May 7, 1995 trade
contracts involving Iran.(a) All transactions necessary to complete performance of a trade
contract entered into prior to May 7, 1995, and involving Iran (a pre-
existing trade contract), including the exportation of goods, services
(including financial services), or technology from the United States
that was authorized pursuant to Federal regulations in force
immediately prior to May 6, 1995, or performance under a pre-existing
trade contract for transactions in Iranian-origin or Government of
Iran-owned or controlled goods or services that do not involve
importation into the United States, are authorized without specific
licensing by the Office of Foreign Assets Control if the conditions in
paragraph (a)(1) or (a)(2) of this section are met:
(1) If the pre-existing trade contract is for an exportation of
goods or technology from the United States that was authorized pursuant
to Federal regulations in force immediately prior to May 6, 1995, the
goods or technology must be exported from the United States prior to
12:01 a.m. Eastern Daylight Time, June 6, 1995, and all other activity
by U.S. persons that is necessary and incidental to the performance of
the pre-existing trade contract (other than payment under a financing
contract) must be completed prior to 12:01 a.m. Eastern Daylight Time,
August 6, 1995; or
(2) All obligations under a pre-existing trade contract (other than
payment under a financing contract) must be fully completed prior to
12:01 a.m. Eastern Daylight Time, June 6, 1995, if the pre-existing
trade contract is for one of the following:
(i) The exportation of services from the United States benefitting
a person in Iran or the Government of Iran;
(ii) The reexportation of goods or technology to Iran, the
Government of Iran, or an entity owned or controlled by the Government
of Iran that was authorized pursuant to Federal regulations in force
immediately prior to May 6, 1995; or
(iii) Transactions relating to goods or services of Iranian origin
or owned or controlled by the Government of Iran other than
transactions relating to importation into the United States of such
goods or services.
* * * * *32. Section 560.516 is amended by revising paragraphs (a)(3),
(a)(4), and (b) to read as follows:Sec. 560.516 Payment and United States dollar clearing transactions
involving Iran.(a) * * *
(3) The transfer arises from an underlying transaction that is not
prohibited by this part, such as a non-commercial remittance to or from
Iran (e.g., a family remittance not related to a family-owned
enterprise); a U.S.-[[Page 20175]]
related commercial transfer not prohibited by this part (see, e.g.,
Sec. 560.515(b)); or a third-country transaction not prohibited by this
part; or
(4) The transfer arises from an underlying transaction that is
exempted from regulation pursuant to Sec. 203(b) of the International
Emergency Economic Powers Act (50 U.S.C. 1702(b)), such as an
exportation to Iran or importation from Iran of information and
informational materials, a travel-related remittance, or payment for
the shipment of a donation of articles to relieve human suffering.
(b) Before a United States depository institution initiates a
payment on behalf of any customer, or credits a transfer to the account
on its books of the ultimate beneficiary, the United States depository
institution must determine that the underlying transaction is not
prohibited by this part.
* * * * *33. Section 560.523 is revised to read as follows:
Sec. 560.523 Exportation of equipment and services relating to
information and informational materials.Specific licenses may be issued on a case-by-case basis for the
exportation of equipment and services necessary for the establishment
of news wire feeds or other transmissions of information and
informational materials.34. Section 560.529 is added to subpart E to read as follows:
Sec. 560.529 Bunkering and emergency repairs.
Goods or services provided in the United States to a non-Iranian
carrier transporting passengers or goods to or from Iran are
permissible if they are:
(a) Bunkers or bunkering services;
(b) Supplied or performed in the course of emergency repairs; or
(c) Supplied or performed under circumstances which could not be
anticipated prior to the carrier's departure for the United States.35. An appendix to this part is added at the end thereof to read as
follows:Appendix to Part 560--Financial Institutions Determined to be Owned
or Controlled by the Government of IranThis appendix lists financial institutions determined by the
Office of Foreign Assets Control to be entities owned or controlled
by the Government of Iran within the meaning of Sec. 560.313. The
names and addresses represent the most complete list available at
this time. Unless otherwise indicated, the financial institutions
listed below are considered to be entities owned or controlled by
the Government of Iran when they operate, not only from the
locations listed below, but also from any other location. The names
and addresses are subject to change, and the Office of Foreign
Assets Control will update the list as needed.1. AGRICULTURAL COOPERATIVE BANK OF IRAN (a.k.a. BANK TAAVON
KESHAVARZI IRAN), No. 129 Patrice Lumumba Street, Jalal-Al-Ahmad
Expressway, P.O. Box 14155/6395, Tehran, Iran
2. AGRICULTURAL DEVELOPMENT BANK OF IRAN (a.k.a. BANK JOSIAIYI
KESHAHVARZI), Farahzad Expressway, Tehran, Iran
3. BANK JOSIAIYI KESHAHVARZI (a.k.a. AGRICULTURAL DEVELOPMENT BANK
OF IRAN), Farahzad Expressway, Tehran, Iran
4. BANK MARKAZI JOMHOURI ISLAMI IRAN (a.k.a. THE CENTRAL BANK OF
IRAN), Ferdowsi Avenue, P.O. Box 11365-8551, Tehran, Iran
5. BANK MASKAN (a.k.a. HOUSING BANK (of Iran)), Ferdowsi St.,
Tehran, Iran
6. BANK MELLAT, Park Shahr, Varzesh Avenue, P.O. Box 11365/5964,
Tehran, Iran, and all offices worldwide, including, but not limited
to:
a. BANK MELLAT (Branch), Ziya Gokalp Bulvari No. 12, Kizilay,
Ankara, Turkey
b. BANK MELLAT (Branch), Binbir Cicek Sokak, Buyukdere Caddesi, P.O.
Box 67, Levant, Istanbul, Turkey
c. BANK MELLAT (Branch), 48 Gresham Street, London EC2V 7AX, England
7. BANK MELLI, P.O. Box 11365-171, Ferdowsi Avenue, Tehran, Iran,
and all offices worldwide, including, but not limited to:
a. BANK MELLI (Branch), 4 Moorgate, London EC2R 6AL, England
b. BANK MELLI (Branch), Schadowplatz 12, 4000 Dusseldorf 1, Germany
c. BANK MELLI (Branch), Friedenstrasse 4, P.O. Box 160 154, 6000
Frankfurt am Main, Germany
d. BANK MELLI (Branch), P.O. Box 112129, Holzbruecke 2, 2000 Hamburg
11, Germany
e. BANK MELLI (Branch), Odeonsplatz 18, 8000 Munich 22, Germany
f. BANK MELLI (Branch), 43 Avenue Montaigne, 75008 Paris, France
g. BANK MELLI (Branch), 601 Gloucester Tower, The Landmark, 11
Pedder Street, P.O. Box 720, Hong Kong
h. BANK MELLI (Representative Office), 333 New Tokyo Building, 3-1
Marunouchi, 3-chome, Chiyoda-ku, Tokyo, Japan
i. BANK MELLI (Representative Office), 818 Wilshire Boulevard, Los
Angeles, California 90017, U.S.A
j. BANK MELLI (Representative Office), 767 Fifth Avenue, 44th Floor,
New York, New York 10153, U.S.A
k. BANK MELLI (Representative Office), Smolensky Boulevard 22/14,
Kv. S., Moscow, Russia
l. BANK MELLI (Branch), Flat No. 1, First Floor, 8 Al Sad El-Aaly,
Dokki, P.O. Box 2654, Cairo, Egypt
m. BANK MELLI (Branch), Ben Yas Street, P.O. Box No. 1894, Riga
Deira, Dubai, U.A.E
n. BANK MELLI (Branch), P.O. Box 2656, Shaikha Maryam Building, Liwa
Street, Abu Dhabi, U.A.E
o. BANK MELLI (Branch), B.P.O. Box 1888, Clock Tower, Industrial
Road, Al-Ain Club Building in from Emertel Al Ain, Al Ain, Abu
Dhabi, U.A.E
p. BANK MELLI (Branch), P.O. Box 1894, Riqa, Ban Yas Street, Deira,
Dubai, U.A.E
q. BANK MELLI (Branch), Mohd-Habib Building, Al-Fahidi Street, P.O.
Box 3093, Bur Dubai, Dubai, U.A.E
r. BANK MELLI (Branch), P.O. Box 248, Fujairah, U.A.E
s. BANK MELLI (Branch), Sami Sagar Building Oman Street Al-Nakheel,
P.O. Box 5270, Ras-Al Khaimah, U.A.E
t. BANK MELLI (Branch), P.O. Box 459, Al Bory Street, Sharjah,
U.A.E.
u. BANK MELLI (Branch), P.O. Box 785, Government Road, Shaikh
Mubarak Building, Manama, Bahrain
v. BANK MELLI (Branch), P.O. Box 23309, Shaikh Salman Street, Road
No. 1129, Muharraq 211, Bahrain
w. BANK MELLI (Branch), P.O. Box 5643, Mossa Abdul Rehman Hassan
Building, 238 Al Burj St., Ruwi, Muscat, Oman
8. BANK OF INDUSTRY AND MINE (of Iran) (a.k.a. BANK SANAT VA MADAN),
Hafez Avenue, P.O. Box 11365/4978, Tehran, Iran
9. BANK REFAH KARGARAN (a.k.a. WORKERS WELFARE BANK (of Iran)),
Moffettah No. 125, P.O. Box 15815 1866, Tehran, Iran
10. BANK SADERAT IRAN, Bank Saderat Tower, P.O. Box 15745-631,
Somayeh Street, Tehran, Iran, and all offices worldwide, including,
but not limited to:
a. BANK SADERAT IRAN (Branch), Hamdam Street, Airport Road
Intersection, P.O. Box 700, Abu Dhabi, U.A.E
b. BANK SADERAT IRAN (Branch), Al-Am Road, P.O. Box 1140, Al Ein,
Abu Dhabi, U.A.E
c. BANK SADERAT IRAN (Branch), Liwara Street, P.O. Box 16, Ajman,
U.A.E
d. BANK SADERAT IRAN (Branch), 3rd Floor Dom Dasaf Building, Mejloka
Street 7A, Ashkhabad, Turkmenistan
e. BANK SADERAT IRAN (Branch), 25-29 Panepistimiou Street, P.O. Box
4308, GR-10210, Athens 10672, Greece
f. BANK SADERAT IRAN (Branch), Imam Ali Street, Sahat Yaghi, Ras
Elain-Alektisad Building 2nd Floor, Baalbeck, Lebanon
g. BANK SADERAT IRAN (Branch and Offshore Banking Unit), 106
Government Road, P.O. Box 825, Manama Town 316, Bahrain
h. BANK SADERAT IRAN (Branch), Hamra Pavillion Street, Savvagh and
Daaboul Building 1st Floor, P.O. Box 113-6717, Beirut, Lebanon
i. BANK SADERAT IRAN (Branch), Alghobairi Boulevard, Beirut, Lebanon
j. BANK SADERAT IRAN (Branch), 28 Sherif Street, P.O. Box 462,
Cairo, Egypt
k. BANK SADERAT IRAN (Branch), Old Ben-Ghanem Street (next to God
Market), P.O. Box 2256, Doha, Qatar
l. BANK SADERAT IRAN (Branch), Almaktoum Road, P.O. Box 4182, Deira,
Dubai, U.A.E[[Page 20176]]
m. BANK SADERAT IRAN (Branch), Bazar Murshid, P.O. Box 4182, Deira,
Dubai, U.A.E
n. BANK SADERAT IRAN (Branch), Alfahid Road, P.O. Box 4182, Bur
Dubai, Dubai, U.A.E
o. BANK SADERAT IRAN (Branch), Sherea Shekikh Zayad Street, P.O. Box
55, Fujairah, U.A.E
p. BANK SADERAT IRAN (Branch), Wilhelm Leuschner Strasse 41, P.O.
Box 160151, W-6000 Frankfurt am Main, Germany
q. BANK SADERAT IRAN (Branch), P.O. Box 112227, Hopfenhof Passage,
Kleiner Bustah 6-10, W-2000 Hamburg 11, Germany
r. BANK SADERAT IRAN (Branch), Lothbury, London EC2R 7HD, England
s. BANK SADERAT IRAN (Representative Office), 707 Wilshire
Boulevard, Suite 4880, Los Angeles, California 90017, U.S.A
t. BANK SADERAT IRAN (Representative Office), 55 East 59th Street,
16th Floor, New York, New York 10022, U.S.A.
u. BANK SADERAT IRAN (Branch), P.O. Box 4269, Mutrah, Muscat, Oman
v. BANK SADERAT IRAN (Branch), 16 Rue de la Paix, Paris 2eme, 75002
Paris, France
w. BANK SADERAT IRAN (Branch), Alaroba Road, P.O. Box 316, Sharjah,
U.A.E
11. BANK SANAT VA MADAN (a.k.a. BANK OF INDUSTRY AND MINE (of
Iran)), Hafez Avenue, P.O. Box 11365/4978, Tehran, Iran
12. BANK SEPAH, Emam Khomeini Square, P.O. Box 11364, Tehran, Iran,
and all offices worldwide, including, but not limited to:
a. BANK SEPAH (Branch), Muenchener Strasse 49, P.O. Box 10 03 47, W-
6000 Frankfurt am Main 1, Germany
b. BANK SEPAH (Branch), 5/7 Eastcheap, EC3M 1JT London, England
c. BANK SEPAH (Representative Office), 650 Fifth Avenue, New York,
New York 10019, U.S.A
d. BANK SEPAH (Branch), 17 Place Vendome, 75001 Paris, France.
e. BANK SEPAH (Branch), Via Barberini 50, 00187 Rome, Italy
f. BANK SEPAH (Representative Office), Ufficio di Rappresentan Za,
Via Ugo Foscolo 1, 20121 Milan, Italy
13. BANK TAAVON KESHAVARZI IRAN (a.k.a. AGRICULTURAL COOPERATIVE
BANK OF IRAN) No. 129 Patrice Lumumba Street, Jalal-Al-Ahmad
Expressway, P.O. Box 14155/6395, Tehran, Iran
14. BANK TEJARAT, 130 Taleghani Avenue, Nejatoullahie, P.O. Box
11365-5416, Tehran, Iran, and all offices worldwide, including, but
not limited to:
a. BANK TEJARAT (Branch), 6/8 Clements Lane, London EC4N 7AP,
England
b. BANK TEJARAT (Branch), 44 Avenue des Champs Elysees, 75008 Paris,
France
15. DEUTSCH-IRANISCHE HANDELSBANK AG (n.k.a. EUROPAEISCH-IRANISCHE
HANDELSBANK AG) Depenau 2, W-2000 Hamburg 1, Germany, and all
offices worldwide, including, but not limited to:
a. DEUTSCH-IRANISCHE HANDELSBANK AG (n.k.a. EUROPAEISCH-IRANISCHE
HANDELSBANK AG) (Representative Office), 23 Argentine Square,
Beihaghi Bulvard, P.O. Box 15815/1787, Tehran 15148, Iran
16. EUROPAEISCH-IRANISCHE HANDELSBANK AG (f.k.a. DEUTSCH-IRANISCHE
HANDELSBANK AG) Depenau 2, W-2000 Hamburg 1, Germany, and all
offices worldwide, including, but not limited to:
a. EUROPAEISCH-IRANISCHE HANDELSBANK AG (f.k.a. DEUTSCH-IRANISCHE
HANDELSBANK AG) (Representative Office), 23 Argentine Square,
Beihaghi Bulvard, P.O. Box 15815/1787, Tehran 15148, Iran
17. HOUSING BANK (of Iran) (a.k.a. BANK MASKAN), Ferdowsi St.,
Tehran, Iran
18. IRAN OVERSEAS INVESTMENT BANK LIMITED (f.k.a. IRAN OVERSEAS
INVESTMENT CORPORATION LIMITED), 120 Moorgate, London EC2M 6TS,
England, and all offices worldwide, including, but not limited to:
a. IRAN OVERSEAS INVESTMENT BANK LIMITED (Representative Office),
1137 Avenue Vali Asr off Park-e-SAll, P.O. Box 15115/531, Tehran,
Iran
b. IRAN OVERSEAS INVESTMENT BANK LIMITED (Agency), Suite 3c Olympia
House, 61/63 Dame Street, Dublin 2, Ireland
c. IRAN OVERSEAS INVESTMENT BANK LIMITED (Agency), Improgetti, Via
Germanico 24, 00192 Rome, Italy
d. IRAN OVERSEAS TRADING COMPANY LIMITED (Subsidiary), 120 Moorgate,
London EC2M 6TS, England
e. IRAN OVERSEAS INVESTMENT CORPORATION LIMITED (n.k.a. IRAN
OVERSEAS INVESTMENT BANK LIMITED), 120 Moorgate, London EC2M 6TS,
England
19. THE CENTRAL BANK OF IRAN (a.k.a. BANK MARKAZI JOMHOURI ISLAMI
IRAN), Ferdowsi Avenue, P.O. Box 11365-8551, Tehran, Iran
20. WORKERS WELFARE BANK (of Iran) (a.k.a. BANK REFAH KARGARAN),
Moffettah No. 125, P.O. Box 15815 1866, Tehran, IranDated: March 25, 1999.
R. Richard Newcomb,
Director, Office of Foreign Assets Control.
Approved: March 31, 1999.
Elisabeth A. Bresee,
Assistant Secretary (Enforcement), Department of the Treasury.
[FR Doc. 99-10179 Filed 4-21-99; 4:01 pm]
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