§ 561.407. Conducting or facilitating a financial transaction with the Central Bank of Iran or a designated Iranian financial institution.
75 words·~1 min read·
/us/cfr/t31/s§ 561.407·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A foreign financial institution conducts or facilitates a financial transaction with the Central Bank of Iran or a designated Iranian financial institution if it maintains an account for such entities or engages in a financial transaction directly or indirectly with such entities. Note to § 561.407: See § 561.404 for factors that may be considered in determining whether a financial transaction is significant, as required for the imposition of certain sanctions pursuant to this part.