战略与国际研究中心-Iran-Sanctions-at-the-Halfway-Point_12页_225kb

Summary of Iranian Financial Sanctions Regulations (31 CFR Part 561)

Core Content

The Department of the Treasury's Office of Foreign Assets Control (OFAC) amended and reissued the Iranian Financial Sanctions Regulations (IFSR) under 31 CFR Part 561 to implement new provisions from the National Defense Authorization Act for Fiscal Year 2012 (NDAA), specifically section 1245(d), and to align with Executive Order 13553. The changes aim to enhance financial sanctions against the Government of Iran, the Central Bank of Iran, and designated Iranian financial institutions.

Key Provisions and Changes

1. Sanctions on Foreign Financial Institutions

• Section 1245(d)(1) of the NDAA requires the President to prohibit or impose strict conditions on the opening or maintaining of correspondent or payable-through accounts in the U.S. for foreign financial institutions that knowingly conduct or facilitate significant financial transactions with the Central Bank of Iran or other designated Iranian financial institutions.
• Exceptions:
  • Transactions for the sale of food, medicine, or medical devices to Iran are exempt from sanctions.
  • Sanctions for transactions involving petroleum or petroleum products are subject to the President's periodic determination that there is sufficient supply from other countries.

2. Timing of Sanctions

• Private foreign financial institutions face sanctions 60 days after the enactment of the NDAA for non-petroleum transactions.
• Petroleum transactions face sanctions 180 days after enactment, unless the President determines that the country with primary jurisdiction has significantly reduced its crude oil purchases from Iran.

3. Waivers and Reporting

• The President may waive sanctions for up to 120 days if it is in the national security interest.
• A new reporting requirement is introduced: U.S. financial institutions must report the closure of correspondent or payable-through accounts for foreign financial institutions on the Part 561 List within 30 days. The report must include full details of all transactions processed during the account closure.

4. New Definitions and Interpretations

• New sections define key terms such as:
  • Petroleum and petroleum products (§ 561.318–319)
  • Food, medicine, and medical devices (§ 561.327)
  • Significant transaction (§ 561.404)
  • Country with primary jurisdiction over a foreign financial institution (§ 561.406)
• These definitions support the application of the new sanctions rules.

5. Amendments to OFAC's Authority and Delegation

• OFAC added IEEPA to its authority citation, allowing it to exercise IEEPA-based sanctions in addition to those under CISADA.
• Section 561.802 was amended to delegate IEEPA authorities to the Director of OFAC or other authorized officers.

6. Replacement of Appendix A with the Part 561 List

• References to Appendix A were removed from the IFSR.
• A new Part 561 List was introduced, maintained on OFAC's website and published in the Federal Register. This list includes the names of sanctioned foreign financial institutions and the applicable prohibitions or conditions.

7. Compliance and Enforcement Enhancements

• OFAC clarified that it may use IEEPA authorities to investigate, regulate, or prohibit transactions under the IFSR.
• The new reporting requirement aids in compliance verification and supports OFAC's enforcement functions.

Effective Date and Contact Information

• Effective Date: February 27, 2012.
• For Further Information Contact:
  • Assistant Director for Sanctions Compliance & Evaluation: 202/622-2490
  • Assistant Director for Licensing: 202/622-2480
  • Assistant Director for Policy: 202/622-4855
  • Chief Counsel (Foreign Assets Control): 202/622-2410

Paperwork Reduction Act and Public Participation

• The collection of information under § 561.504(b) has been approved by the Office of Management and Budget (OMB) with control number 1505-0243.
• Comments on the rule and burden estimates are invited and should be submitted by April 27, 2012 to:
  • OMB, Attention: Desk Officer for the Department of the Treasury, Office of Information and Regulatory Affairs, Washington, DC 20503
  • A copy to Chief of Records, Office of Foreign Assets Control, Department of the Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20220
• The estimated average reporting burden is 2 hours per response.

Regulatory Scope and Applicability

• The IFSR is separate from and independent of the CISADA-based sanctions (§ 561.201) and NDAA-based sanctions (§ 561.203).
• The regulations apply to foreign financial institutions and U.S. financial institutions that maintain accounts for them.
• The Part 561 List is a new public list of sanctioned institutions and their restrictions.

Legal Authorities

• The amendments are based on:
  • CISADA (Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010)
  • Executive Order 13553
  • Executive Order 13599
  • NDAA (National Defense Authorization Act for Fiscal Year 2012)
  • IEEPA (International Emergency Economic Powers Act)

Conclusion

The updated IFSR strengthens financial sanctions against Iran, particularly the Central Bank of Iran and other designated financial institutions, by introducing new prohibitions, definitions, and reporting requirements. These changes are aimed at preventing financial transactions that support Iran's proliferation of weapons of mass destruction, international terrorism, and other sanctionable activities, while also providing exceptions for specific transactions like those involving food, medicine, and non-petroleum trade.