OFAC update

Iran General License Issued:OFAC has amended the Iranian Transactions Regulations by adding a new general licensefor transactions for the conduct of the official business of six international organizations, which was published in the Federal Register on August 22, 2006 (71 FR 48795). The license, which promotes the U.S. interest in the hiring and retention of Americans by international organizations, authorizes U.S. persons who are employees or contractors of the United Nations, the World Bank, the International Monetary Fund, the International Atomic Energy Agency, the International Labor Organization, or the World Health Organization to perform transactions for the conduct of the official business of those organizations in or involving Iran. The general license does not authorize the exportation or reexportation to Iran of any goods or technology listed on the Commerce Control List.