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Code · CFR · Title 31 — Money and Finance: Treasury · Part 560 · § 560.209

§ 560.209. Prohibited transactions with respect to the development of Iranian petroleum resources.

157 words·~1 min read·/us/cfr/t31/s§ 560.209·

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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.
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