Regulatory Alerts2019-06-26
International Obligations (Iran) Order, 2019
The Governor-General of The Bahamas issued the International Obligations (Iran) Order, 2019 to implement United Nations Security Council Resolution 2231 and enforce economic sanctions against Iran. The Order restricts the supply, sale, and transfer of specified nuclear-related equipment, arms, and technology to Iran while mandating the freezing of funds and financial assets held by designated individuals and entities in Bahamian banks. It establishes clear exemption pathways for basic and extraordinary expenses, appoints government officials as focal points to manage compliance procedures, and revokes the previous 2008 sanctions order.
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