Code of Federal Regulations · Section
§ 535.576 — Payment Of Non-dollar Letters Of Credit To Iran
31 C.F.R. § 535.576
View:
Notwithstanding the prohibitions of §§ 535.201 and 535.206(a)(4), payment of existing non-dollar letters of credit in favor of Iranian entities or any person in Iran by any foreign branch or subsidiary of a U.S. firm is authorized, provided that the credit was opened prior to the respective effective date.
Authorizing Statute
-
General authority of the Secretary31 U.S.C. § 321
-
Financial transactions18 U.S.C. § 2332d
-
Mode of recovery28 U.S.C. § 2461