What are the major changes that the Iranian Transaction and Sanctions Regulations (ITSR) implement in superseding the Iranian Transaction Regulations (ITR)?
OFAC's answer
The [ITSR](https://www.ecfr.gov/cgi-bin/text-idx?SID=0107483c0b76405828ee0a5fcb047046&tpl=/ecfrbrowse/Title31/31cfr560_main_02.tpl)block the property and interests in property of the Government of Iran and [all Iranian financial institutions](https://www.ecfr.gov/cgi-bin/text-idx?SID=8d6b227d293738d9667369e986e3fcd9&mc=true&node=se31.3.561_1320&rgn=div8) that come within the possession or control of any U.S. person, including any foreign branch, and prohibit all U.S. persons from dealing with any property interests whatsoever, present, future, or contingent, of persons identified as already blocked pursuant to [E.O. 13599](https://ofac.treasury.gov/media/5931/download?inline) and the [National Defense Authorization Act (NDAA)](https://ofac.treasury.gov/media/5761/download?inline). OFAC is adding section [560.211](https://www.ecfr.gov/cgi-bin/retrieveECFR?gp=&SID=e3c4494665db57ce61ce4c1445726e8e&mc=true&r=PART&n=pt31.3.560#se31.3.560_1211) to the ITSR to implement the blocking prohibitions set forth in E.O. 13599 and the NDAA. New sections [560.212](https://www.ecfr.gov/cgi-bin/retrieveECFR?gp=&SID=e3c4494665db57ce61ce4c1445726e8e&mc=true&r=PART&n=pt31.3.560#se31.3.560_1212) through [560.214](https://www.ecfr.gov/cgi-bin/retrieveECFR?gp=&SID=e3c4494665db57ce61ce4c1445726e8e&mc=true&r=PART&n=pt31.3.560#se31.3.560_1214) are being added to set forth certain consequences and requirements that stem from the blocking prohibitions, including, inter alia, the requirement to hold blocked funds in interest-bearing accounts. New paragraphs (e) and (f) are being added to section [560.210](https://www.ecfr.gov/cgi-bin/retrieveECFR?gp=&SID=e3c4494665db57ce61ce4c1445726e8e&mc=true&r=PART&n=pt31.3.560#se31.3.560_1210) to incorporate two exemptions from the blocking prohibitions that are set forth in E.O. 13599. These exemptions concern the official business of the Federal Government and the property and interests in property of the Government of Iran that were blocked pursuant to [Executive Order 12170](https://ofac.treasury.gov/media/6316/download?inline) of November 14, 1979.