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OFAC News Regarding Iran

Posted by: Zaher Fallahi
Posted On: Nov 25, 2014

Extension of the Implementation of the Joint Plan of Action Reached On November 24, 2013 Between The P5+1 and The Islamic Republic of Iran

Yesterday, November 24, 2014, the P5+1 (the United States, Britain, France, Russia, China, and Germany, coordinated by European Union High Level Representative Ms. Catherine Ashton) and Iranian Representatives affirmed that they will continue to implement the commitments described in the Joint Plan of Action (JPOA), and the U.S. government has extended the sanctions relief provided for in the JPOA through June 30, 2015. This extended relief comes into effect on today November 25, 2014.

Accordingly, the US Treasury’s Office of Foreign Assets Control (OFAC) today is publishing on its Web site the following key documents to continue implementation of the United States’ commitments under JPOA: Guidance Relating to the Provision Of Certain Temporary Sanctions Relief in Order to Implement the Joint Plan of Action Reached On November 24, 2013 Between The P5+1 and The Islamic Republic Of Iran, as Extended Through June 30, 2015Frequently Asked Questions Relating to the Extension of Temporary Sanctions Relief through June 30, 2015, to Implement the Joint Plan of Action between the P5 + 1 and the Islamic Republic of Iran​Second Amended Statement of Licensing Policy on Activities Related to the Safety Of Iran’s Civil Aviation Industry

Zaher Fallahi, Attorney At Law, CPA, is an OFAC Attorney and a Tax Attorney, practices in Los Angeles and Orange County, California, and advises clients with respect to sale of property in Iran and transfer of the related funds to the US in conformity with the Iranian Transactions & Sanctions Regulations (ITSR) and the US International Tax Laws. Telephones: LA (310) 719-1040 and Orange County (714) 546-4272, e-mail: taxattorney@zfcpa.com