C.F.R. » Title 31 » CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY › PART 560—IRANIAN TRANSACTIONS AND SANCTIONS REGULATIONS › Subpart B—Prohibitions

31 C.F.R. § 560.209

Prohibited transactions with respect to the development of Iranian petroleum resources

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Except as otherwise authorized, and notwithstanding any contract entered into or any license or permit granted prior to March 16, 1995, the following are prohibited:

(a) The entry into or performance by a United States person, or the approval by a United States person of the entry into or performance by an entity owned or controlled by a United States person, of:

(1) A contract that includes overall supervision and management responsibility for the development of petroleum resources located in Iran, or

(2) A guaranty of another person's performance under such contract; or

(b) The entry into or performance by a United States person, or the approval by a United States person of the entry into or performance by an entity owned or controlled by a United States person, of:

(1) A contract for the financing of the development of petroleum resources located in Iran, or

(2) A guaranty of another person's performance under such a contract.

Notes of Decisions
Cited in 5 cases, 2011–2012 · leading case: United States v. Banki, 685 F.3d 99 (2d Cir. 2011).
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United States v. Banki, 685 F.3d 99 (2d Cir. 2011). · cites it 2× “Nor may a United States person remit his funds to Iran to purchase Iranian petroleum resources, see 31 C.F.R. § 560.209 (a)(1), or to finance the development of Iranian petroleum resources, see 31 C.”
United States v. Banki, 660 F.3d 665 (2d Cir. 2011). · cites it 2× “Nor may a United States person remit his funds to Iran to purchase Iranian petroleum resources, see 31 C.F.R. § 560.209 (a)(1), or to finance the development of Iranian petroleum resources, see 31 C.”
United States v. Banki, 660 F.3d 665 (2d Cir. 2012). · cites it 2× “Nor may a United States person remit his funds to Iran to purchase Iranian petroleum resources, see 31 C.F.R. § 560.209 (a)(1), or to finance the development of Iranian - 25 - general bar to the remissions of funds, see 31 C.”
United States v. Banki, 660 F.3d 665 (2d Cir. 2012). · cites it 2× “Nor may a United States person remit his funds to Iran to purchase Iranian petroleum resources, see 31 C.F.R. § 560.209 (a)(1), or to finance the development of Iranian - 25 - general bar to the remissions of funds, see 31 C.”
United States v. Banki, 660 F.3d 665 (2d Cir. 2012). · cites it 2× “Nor may a United States person remit his funds to Iran to purchase Iranian petroleum resources, see 31 C.F.R. § 560.209 (a)(1), or to finance the development of Iranian petroleum resources, see 31 C.”
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