Breaking News: New OFAC Regulations Ban All Imports From Iran

By PAAIA Government Affairs Office

Aug. 19, 2010, Washington, D.C. —The Office of Foreign Asset Control (OFAC) has issued new sanctions regulations against Iran since PAAIA’s most recent report on August 5th. According to Erich Ferrari of McNabb Ferrari, P.C., all imports from Iran will be banned effective Sept. 29, 2010. The new regulations eliminate previous exemptions for imports of carpets, caviar, pistachios, and other Iranian products and implement sections of the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010, which was signed into law by President Obama on July 1^st. More to come as we learn the details.