Code of Federal Regulations · Section

§ 535.902 — Set-offs By U.s. Owned Or Controlled Firms Abroad

31 C.F.R. § 535.902

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(a) Branches and subsidiaries in foreign countries of persons subject to the jurisdiction of the United States are licensed to set-off their claims against Iran or Iranian entities by debit to blocked accounts held by them for Iran or Iranian entities.

(b) The general license in paragraph (a) of this section is revoked as of January 19, 1981.

(c) For purposes of this section, set-offs include combinations of accounts and any similar actions.

31 C.F.R. § 535.901 31 C.F.R. § 535.904

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