Hogan Lovells Publications | 05 March 2020

U.S. government ends uncertainty surrounding the use of the Central Bank of Iran (CBI) in humanitarian trade with Iran and opens U.S.-Swiss Humanitarian Channel

On 27 February 2020, the Office of Foreign Assets Controls (OFAC) issued General License (GL) 8 authorizing certain humanitarian trade transactions involving the Central Bank of Iran (CBI) that are otherwise prohibited under the Global Terrorism Sanctions Regulations (GTSR) or the Iranian Transactions and Sanctions Regulations (ITSR).

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