Update on Sanctions Regulations

By PAAIA Government Affairs Office

 Aug.26, 2010, Washington,
D.C. – Following our report last Thursday that new OFAC regulations
require licensing for the importation of commercial products from Iran that were
previously exempted from sanctions, we have learned that it is unclear whether the
regulations will also apply to importing Iranian goods for personal use. It is also
unclear whether the regulations will impact the ability of U.S. based attorneys
to take on clients in Iran without specific licensing from OFAC.  To address
these uncertainties, the Iranian American Bar Association (IABA) has hired member
Erich Ferrari, partner at McNabb Ferrari, P.C., to file a request for further interpretation
to OFAC.  Mr. Ferrari will be assisted by IABA Board Member, Farhad Alavi,
partner at The Law Office of Farhad R. Alavi, PLLC.
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