C.F.R. » Title 31 » CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY › PART 535—IRANIAN ASSETS CONTROL REGULATIONS › Subpart E—Licenses, Authorizations and Statements of Licensing Policy

31 C.F.R. § 535.576

Payment of non-dollar letters of credit to Iran

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Notwithstanding the prohibitions of §§ 535.201 and 535.206(a)(4), payment of existing non-dollar letters of credit in favor of Iranian entities or any person in Iran by any foreign branch or subsidiary of a U.S. firm is authorized, provided that the credit was opened prior to the respective effective date.

[45 FR 29288, May 2, 1980]