Regulatory Alerts2024-11-19 | 2024-26800Publication of an Iran-Related Determination
The Department of the Treasury’s Office of Foreign Assets Control published a sector determination issued on October 11, 2024, pursuant to Executive Order 13902. The Secretary of the Treasury, in consultation with the Department of State, determined that sanctions under section 1(a)(i) of the Executive Order shall apply to the petroleum and petrochemical sectors of the Iranian economy. This determination took effect on October 11, 2024, and subjects any person operating in these sectors to economic sanctions blocking their property and interests in property.
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