Treasury Exempts Selected U.S. Citizens from Iran Sanctions

Iran Materials 25 August 2006 13:35 (UTC +04:00)

(Bureau of International Information Programs, U.S. Department of State) - The U.S. Treasury Department has modified the Iranian Transactions Regulations (ITR) to permit U.S. employees and contractors of six international organizations to engage in official business with Iran on behalf of those organizations.

The ITR implements a series of executive orders issued by former President Clinton imposing comprehensive trade sanctions on Iran and prohibiting U.S. citizens from doing business there, reports Trend.

In the August 22 Federal Register, the Treasury Department amended the ITR in the interest of promoting the hiring and retention of Americans by international organizations.

Treasury Department spokeswoman Molly Millerwise explained, It enables U.S. persons working for such international organizations to engage in well-recognized, day-to-day business transactions without running into conflict with U.S. sanctions laws.

The amendment allows U.S. citizens working for the United Nations, the World Bank, the International Monetary Fund, the International Atomic Energy Agency, the International Labor Organization and the World Health Organization to provide services involving Iran, purchase Iranian goods or services, transfer money to or from Iran, and manage accounts in Iran in the course of official business. The amendment still prohibits the exportation of certain U.S. goods and technology to Iran.

Bureau of International Information Programs, U.S. Department of State.