GL-A

Summary

General License A, issued under the Executive Order of February 5, 2012 ("Blocking Property of the Government of Iran and Iranian Financial Institutions"), extends authorization to transactions involving property and interests in property of the Government of Iran or Iranian financial institutions that were previously authorized under general licenses in the Iranian Transactions Regulations (31 C.F.R. part 560) or under specific licenses issued pursuant to any part of 31 C.F.R. chapter V. Specific licenses with an expiration date remain in effect according to their terms; those without an expiration date are authorized under the new Executive Order only until April 6, 2012, unless issued under 31 C.F.R. part 535, in which case they remain in effect according to their terms. The license expressly excludes transactions authorized by § 560.517(a)(3) or (b)(2) of the ITR and does not authorize payments from blocked funds or debits to blocked accounts (except those blocked under 31 C.F.R. part 535 and covered by a specific license).

Authorized activities

• Transactions involving property and interests in property of the Government of Iran or Iranian financial institutions authorized under general licenses set forth in the Iranian Transactions Regulations, 31 C.F.R. part 560
• 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 (with expiration dates), which remain in effect according to their terms
• Transactions authorized under specific licenses without an expiration date issued pursuant to 31 C.F.R. chapter V (but not under part 535), authorized under the new Executive Order until April 6, 2012
• Transactions authorized under specific licenses issued pursuant to 31 C.F.R. part 535 (including those also issued under other parts of chapter V), which remain in effect according to their terms

Conditions

This general license does not authorize any transactions authorized by § 560.517(a)(3) or (b)(2) of the ITR; such transactions are prohibited by the new Executive Order. It also does not authorize any 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 an expiration date (other than those issued under 31 C.F.R. part 535) are authorized only until April 6, 2012.