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US Sanctions Against Iran’s Central Bank to Impact Host of OFAC Licenses

By Valentina Pasquali

U.S. officials blacklisted the Central Bank of Iran, a sovereign wealth fund and a firm allegedly run by the country's Defense Ministry on Friday, a week after a drone attack on Saudi Arabian oil facilities erased millions of barrels from global energy supplies. Foreign lenders that knowingly engage in significant commerce with the Central Bank of Iran, also known as Bank Markazi, the National Development Fund, or the alleged front company, Etemad Tejarate Pars Co., now risk losing their access to the U.S. financial system, the Treasury Department's Office of Foreign Assets Control, or OFAC, warned. Over the past 20...

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