GL-A

Summary

General License A, issued by OFAC effective February 6, 2012, extends authorizations previously granted under general licenses in the Iranian Transactions Regulations (31 C.F.R. part 560) and specific licenses issued under 31 C.F.R. chapter V to also cover the new Executive Order of February 5, 2012 blocking property of the Government of Iran and Iranian financial institutions. Specific licenses with expiration dates remain in effect according to their terms, while specific licenses without expiration dates issued outside of 31 C.F.R. part 535 are authorized only until April 6, 2012. Specific licenses issued pursuant to 31 C.F.R. part 535 with no expiration date remain in effect according to their terms.

Authorized activities

• All transactions involving property and interests in property of the Government of Iran or Iranian financial institutions authorized under general licenses in the Iranian Transactions Regulations (31 C.F.R. part 560)
• All transactions involving property and interests in property of the Government of Iran or Iranian financial institutions authorized under specific licenses issued pursuant to any part of 31 C.F.R. chapter V that have an expiration date
• All transactions authorized under specific licenses without expiration dates issued pursuant to 31 C.F.R. chapter V (excluding part 535), through April 6, 2012
• All transactions authorized under specific licenses issued pursuant to 31 C.F.R. part 535 (with or without expiration dates), according to their terms
• Payments from funds or debits to accounts blocked pursuant to 31 C.F.R. part 535 that are authorized by specific licenses issued pursuant to 31 C.F.R. chapter V

Conditions

Does not authorize transactions authorized by ITR § 560.517(a)(3) or (b)(2), which are prohibited by the new Executive Order. Does not authorize payments from blocked funds or debits to blocked accounts, except for payments from funds or debits to accounts blocked pursuant to 31 C.F.R. part 535 that are authorized by specific licenses issued pursuant to 31 C.F.R. chapter V. Specific licenses without expiration dates issued under parts other than 31 C.F.R. part 535 are only authorized until April 6, 2012.