OFAC updates Iranian transactions and sanctions rules

OFAC has announced it has issued a final rule amending the Iranian Transactions and Sanctions Regulations to expand the scope of medical devices and agricultural commodities generally authorized for export or re-export to Iran pursuant to the Trade Sanctions Reform and Export Enhancement Act of 2000, as amended. This amendment also includes new or expanded authorizations related to training, replacement parts, software and services for the operation, maintenance, and repair of medical devices, and items that are broken or connected to product recalls or other safety concerns. Additionally, this amendment revises the definition of the terms “goods of Iranian origin” and “Iranian-origin goods.” New and updated Frequently Asked Questions pertaining to the amendment were also released.