[Federal Register Volume 64, Number 79 (Monday, April 26, 1999)]
[Rules and Regulations]
[Pages 20168-20176]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-10179]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 560


Iranian Transactions Regulations: Implementation of Executive 
Order 13059

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Final rule; amendment.

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SUMMARY: The Office of Foreign Assets Control of the U.S. Department of 
the Treasury is amending the Iranian Transactions Regulations to 
implement Executive Order 13059, which clarifies the steps taken in 
Executive Orders 12957 and 12959 with respect to the declaration of 
national emergency and imposition of new and additional sanctions 
against Iran.

EFFECTIVE DATE: April 26, 1999.
FOR FURTHER INFORMATION CONTACT: Regarding the issuance of licenses, 
Steven I. Pinter, Chief, Licensing Division (tel.: 202/622-2480); 
regarding banking and compliance questions, Dennis P. Wood, Chief, 
Compliance Programs Division (tel.: 202/622-2490); regarding Iranian 
government entities, J. Robert McBrien, Chief, International Programs 
Division (tel.: 202/622-2420); regarding legal questions, William B. 
Hoffman, Chief Counsel (tel.: 202/622-2410), Office of Foreign Assets 
Control, Department of the Treasury, Washington, DC 20220.

SUPPLEMENTARY INFORMATION:

Electronic and Facsimile Availability

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Wide Web (Home Page) = http://www.fedworld.gov; FTP = ftp.fedworld.gov 
(192.239.92.205). Additional information concerning the programs of the 
Office of Foreign Assets Control is available for downloading from the 
Office's Internet Home Page: http://www.treas.gov/ofac, or in fax form 
through the Office's 24-hour fax-on-demand service: call 202/622-0077 
using a fax machine, fax modem, or (within the United States) a touch-
tone telephone.

Background

    In Executive Order 12957 of March 15, 1995 (60 FR 14615, March 17, 
1995), President Clinton declared a national emergency with respect to 
the actions and policies of the Government of Iran and imposed 
sanctions against Iran supplementing those imposed in 1987, invoking 
the authority, inter alia, of the International Emergency Economic 
Powers Act, 50 U.S.C. 1701-06 (``IEEPA''). The President substantially 
supplemented and amended those sanctions in Executive Order 12959 of 
May 6, 1995 (60 FR 24757, May 9, 1995). In implementation of these 
orders, the Office of Foreign Assets Control (``OFAC'') amended the 
Iranian Transactions Regulations in September 1995 (the 
``Regulations'') (60 FR 47061, September 11, 1995).
    In Executive Order 13059 of August 19, 1997 (62 FR 44531, August 
21, 1997), the President clarified the steps taken with respect to the 
national emergency declared in Executive Order 12957 and expanded in 
Executive Order 12959. In implementation of these orders, OFAC is 
amending the Regulations.
    Section 560.201 continues the prohibition on the importation into 
the United States of goods or services of Iranian origin but indicates 
that this includes goods or services owned or controlled by the 
Government of Iran. Section 560.201 also conforms the exemption for 
information and informational materials for import purposes to that 
applicable under IEEPA for all other purposes.
    Section 560.204 is revised to provide that any exportation, 
reexportation, sale or supply of goods to Iran or the Government of 
Iran from the United States, or by a U.S. person wherever located, is 
prohibited. This includes any exportation, reexportation, sale or 
supply of goods, services or technology from the United States or by a 
U.S. person in a third country undertaken with knowledge or reason to 
know that such goods, services or technology are intended specifically 
for supply, transshipment or reexportation, directly or indirectly, to 
Iran or the Government of Iran. Similarly, Sec. 560.204 prohibits any 
exportation, reexportation, sale or supply of goods, services or 
technology

[[Page 20169]]

intended specifically for use in the production of, for commingling 
with, or for incorporation into goods, technology or services to be 
supplied, transshipped or reexported exclusively or predominantly to 
Iran or the Government of Iran.
    Section 560.205 is amended to clarify that a person other than a 
U.S. person is prohibited from knowingly reexporting U.S.-origin goods, 
technology and services to Iran or the Government of Iran if those 
goods, services or technology are subject to written license 
application requirements by any U.S. Government agency imposed 
independently of part 560, unless such U.S.-origin items have been 
substantially transformed into a foreign-made product or the U.S.-
origin content meets the de minimis standard in that section. U.S. 
persons remain subject to the prohibitions in Sec. 560.204, regardless 
of the origin or type of item or the country from which it is shipped.
    Section 560.206 amends the rules relating to dealings in goods or 
services of Iranian origin or owned or controlled by the Government in 
Iran and concerning dealings in goods, technology or services for 
exportation, reexportation, sale or supply to Iran or the Government of 
Iran. Section 560.208 is amended to provide that the approval, 
facilitation, financing or guarantee by a U.S. person of any Iran-
related transaction by a foreign person is not permitted if the 
transaction by the foreign person would be prohibited by this part if 
performed by a U.S. person or within the United States. In addition, 
Secs. 560.210(c) and (d) are amended to clarify rules relating to 
informational materials and travel.
    The effective dates of the prohibitions in this part are set out in 
Sec. 560.301. Section 560.306 is revised to clarify the definitions of 
the terms goods of Iranian origin and goods or services owned or 
controlled by the Government of Iran. The definition of United States 
depositary institution in Sec. 560.319 is revised to remove reference 
to certain activities of banks that might draw into the definition non-
banking businesses that are not subject to federal or state regulation 
as banks. Certain other revisions to existing definitions are made to 
subpart C.
    In subpart D, certain existing interpretive provisions are revised 
and new interpretive sections are added. Section 560.403 is added to 
make clear that the prohibitions in Secs. 560.204, 560.206 and 560.208 
apply to export, reexport or supply transactions which require a 
transshipment or transit of goods or technology through Iran to third 
countries. Section 560.406 is revised to indicate that the prohibition 
on importation in Sec. 560.201 includes, among other things, 
importation into the United States, for transshipment or transit, of 
goods owned or controlled by the Government of Iran destined for third 
countries, and the prohibition on exportation in Sec. 560.204 includes, 
among other things, the exportation from the United States, for 
transshipment or transit, of goods intended or destined for the 
Government of Iran, including entities owned or controlled by the 
Government of Iran. Section 560.410 is revised to clarify the term 
exportation or supply of services. Section 560.412 on extensions of 
credit to Iran is amended to add a reference to standby letters of 
credit. Section 560.414, which relates to reexportation of U.S.-origin 
goods or technology, is amended to provide interpretation with respect 
to Sec. 560.205.
    Section 560.416 is added to provide examples of prohibited 
brokering services. Section 560.417 on facilitation of transactions is 
added to replace Sec. 560.516(d), which is removed. Section 560.418 is 
added to deal with the release of technology to Iran or the Government 
of Iran that may violate this part, and transfers of technology to 
foreign nationals, including Iranian nationals, that may implicate 
rules administered by the U.S. Department of State, the U.S. Department 
of Commerce, or other agencies of the U.S. Government. Section 560.419 
is added to deal with issues related to the U.S. employment of persons 
normally located in Iran. Section 560.420 is added to interpret the de 
minimis content rules contained in Sec. 560.205, which apply to 
reexportations by foreign persons.
    In subpart E, Sec. 560.501(d) is added to explain that specific 
licenses issued pursuant to Executive Orders 12613, 12957 or 12959 
continue in effect in accordance with their terms except to the extent 
revoked, amended, or modified by the Office of Foreign Assets Control. 
Section 560.501(e) provides that certain exports, reexports or 
transfers of goods, technology, or services, or the direct products of 
technology, which are not prohibited by this part and which do not 
require authorization by OFAC, may nonetheless require authorization by 
the U.S. Department of Commerce, the U.S. Department of State or other 
agencies of the U.S. Government. Section 560.505 is amended to deal 
with activities taken in connection with certain visa categories.
    Section 560.509 is amended to clarify that the general license 
relating to protection of patents, trademarks and copyrights extends to 
the importation of Iranian-origin services, payment for such services, 
and payment to persons in Iran in connection with such intellectual 
property protection.
    Section 560.511 is added to create an ``insubstantial content'' 
exception to the prohibitions in Sec. 560.204. As noted, Sec. 560.204 
prohibits the knowing exportation, reexportation, sale or supply of 
goods, services or technology from the United States, or by U.S. 
persons wherever located, to third countries for incorporation or 
substantial transformation into items destined for Iran or the 
Government of Iran. Section 560.511 creates an exception to this rule, 
authorizing such ``knowing'' supply by U.S. persons or from the United 
States under certain circumstances: Such ``knowing'' supply is 
authorized under Sec. 560.511 when (1) the items being exported, 
reexported or supplied for substantial transformation or incorporation 
abroad do not require authorization for exportation or reexportation by 
another agency of the U.S. Government; (2) the U.S.-origin items do not 
exceed the content levels specified in Sec. 560.511(a)(2); (3) the 
foreign-made end product is not destined to end uses or end users 
prohibited under regulations administered by other U.S. Government 
agencies (Sec. 560.511(d)); and (4) the foreign-made end product is not 
intended for use in the Iranian petroleum or petrochemical industry 
(Sec. 560.511(e)). The authorization in Sec. 560.511(a) is not 
available if the foreign-made end product is of a type which other U.S. 
Government agencies make ineligible for de minimis U.S.-origin content. 
More generally, export control rules administered by other agencies of 
the U.S. Government may prohibit an exportation or supply otherwise 
authorized by Sec. 560.511.
    A general license is added in Sec. 560.529 to authorize the 
provision of goods or services in the United States to a non-Iranian 
carrier transporting passengers or goods to or from Iran if they are 
bunkers or bunkering services, are supplied in the course of emergency 
repairs, or are supplied under circumstances which could not be 
anticipated prior to the carrier's departure for the United States.
    Technical changes or new text also appear at the following 
sections, among others: Secs. 560.207, 560.308, 560.315, 560.412, 
560.506, 560.515, 560.516, and 560.523. The prior Sec. 560.411 
concerning offshore transactions in Iranian-origin goods and services 
has been removed and reserved because its content, as modified to 
accord with Executive Order 13059, is covered in Sec. 560.206.

[[Page 20170]]

Section 560.318 is removed and reserved.
    An appendix is added to provide the names of financial institutions 
deemed by OFAC to be entities owned or controlled by the Government of 
Iran. This list, with minor modifications, duplicates the list 
promulgated as an annex to General License No. 3 on June 6, 1995 (see 
60 FR 40883, August 10, 1995).
    Because the Regulations involve a foreign affairs function, 
Executive Order 12866 and the provisions of the Administrative 
Procedure Act (5 U.S.C. 553) requiring notice of proposed rulemaking, 
opportunity for public participation, and delay in effective date, are 
inapplicable. Because no notice of proposed rulemaking is required for 
this rule, the Regulatory Flexibility Act (5 U.S.C. 601-612) does not 
apply.

List of Subjects in 31 CFR Part 560

    Administrative practice and procedure, Agricultural commodities, 
Banks, banking, Exports, Foreign trade, Imports, Information, 
Investments, Iran, Loans, Penalties, Reporting and recordkeeping 
requirements, Services, Specially designated nationals, Terrorism, 
Transportation.

    For the reasons set forth in the preamble, 31 CFR part 560 is 
amended as follows:

PART 560--IRANIAN TRANSACTIONS REGULATIONS

    1. The authority citation continues to read as follows:

    Authority: 3 U.S.C. 301; 18 U.S.C. 2332d; 22 U.S.C. 2349aa-9; 31 
U.S.C. 321(b); 50 U.S.C. 1601-1651, 1701-1706; Pub. L. 101-410, 104 
Stat. 890 (28 U.S.C. 2461 note); E.O. 12613, 52 FR 41940, 3 CFR, 
1987 Comp., p. 256; E.O. 12957, 60 FR 14615, 3 CFR, 1995 Comp., p. 
332; E.O. 12959, 60 FR 24757, 3 CFR, 1995 Comp., p. 356; E.O. 13059, 
62 FR 44531, 3 CFR, 1997 Comp., p. 217.

Subpart B--Prohibitions

    2. Section 560.201 is revised to read as follows:


Sec. 560.201  Prohibited importation of goods or services from Iran.

    Except as otherwise authorized pursuant to this part, and 
notwithstanding any contract entered into or any license or permit 
granted prior to May 7, 1995, the importation into the United States of 
any goods or services of Iranian origin or owned or controlled by the 
Government of Iran, other than information and informational materials 
within the meaning of section 203(b)(3) of the International Emergency 
Economic Powers Act (50 U.S.C. 1702(b)(3)), is prohibited.

    3. Section 560.204 is revised to read as follows:


Sec. 560.204  Prohibited exportation, reexportation, sale or supply of 
goods, technology, or services to Iran.

    Except as otherwise authorized pursuant to this part, including 
Sec. 560.511, and notwithstanding any contract entered into or any 
license or permit granted prior to May 7, 1995, the exportation, 
reexportation, sale, or supply, directly or indirectly, from the United 
States, or by a United States person, wherever located, of any goods, 
technology, or services to Iran or the Government of Iran is 
prohibited, including the exportation, reexportation, sale, or supply 
of any goods, technology, or services to a person in a third country 
undertaken with knowledge or reason to know that:
    (a) Such goods, technology, or services are intended specifically 
for supply, transshipment, or reexportation, directly or indirectly, to 
Iran or the Government of Iran; or
    (b) Such goods, technology, or services are intended specifically 
for use in the production of, for commingling with, or for 
incorporation into goods, technology, or services to be directly or 
indirectly supplied, transshipped, or reexported exclusively or 
predominantly to Iran or the Government of Iran.

    4. Section 560.205 is revised to read as follows:


Sec. 560.205  Prohibited reexportation of goods, technology or services 
to Iran or the Government of Iran by persons other than United States 
persons; exceptions.

    (a) Except as otherwise authorized pursuant to this part, and 
notwithstanding any contract entered into or any license or permit 
granted prior to May 7, 1995, the reexportation from a third country, 
directly or indirectly, by a person other than a United States person, 
of any goods, technology or services that have been exported from the 
United States is prohibited, if:
    (1) Undertaken with knowledge or reason to know that the 
reexportation is intended specifically for Iran or the Government of 
Iran; and
    (2) The exportation of such goods, technology, or services from the 
United States to Iran was subject to export license application 
requirements under any United States regulations in effect on May 6, 
1995, or thereafter is made subject to such requirements imposed 
independently of this part (see Sec. 560.414).
    (b) The prohibitions of paragraph (a) of this section shall not 
apply to those goods or that technology subject to export license 
application requirements if such goods or technology have been:
    (1) Substantially transformed into a foreign-made product outside 
the United States; or
    (2) Incorporated into a foreign-made product outside the United 
States if the aggregate value of such goods and technology described in 
paragraph (a)(2) of this section constitutes less than 10 percent of 
the total value of the foreign-made product to be exported from a third 
country (see Sec. 560.420).
    (c) Reexportation by United States persons or from the United 
States is governed by other sections in this part, including 
Secs. 560.204 and 560.206.
    Note to Sec. 560.205. The reexportation of U.S.-origin goods or 
technology, including U.S.-origin goods or technology that have been 
incorporated or substantially transformed into a foreign-made 
product, not prohibited by this section, may require authorization 
by the U.S. Department of Commerce under the Export Administration 
Regulations (15 CFR parts 740-774) or by the U.S. State Department 
under the International Traffic in Arms Regulations (22 CFR 123.9).

    5. Section 560.206 is revised to read as follows:


Sec. 560.206  Prohibited trade-related transactions with Iran; goods, 
technology, or services.

    (a) Except as otherwise authorized pursuant to this part, and 
notwithstanding any contract entered into or any license or permit 
granted prior to May 7, 1995, no United States person, wherever 
located, may engage in any transaction or dealing in or related to:
    (1) Goods or services of Iranian origin or owned or controlled by 
the Government of Iran; or
    (2) Goods, technology, or services for exportation, reexportation, 
sale or supply, directly or indirectly, to Iran or the Government of 
Iran.
    (b) For purposes of paragraph (a) of this section, the term 
transaction or dealing includes but is not limited to purchasing, 
selling, transporting, swapping, brokering, approving, financing, 
facilitating, or guaranteeing.

    6. Section 560.207 is revised to read as follows:


Sec. 560.207  Prohibited investment.

    Except as otherwise authorized pursuant to this part, and 
notwithstanding any contract entered into or any license or permit 
granted prior to May 7, 1995, any new

[[Page 20171]]

investment by a United States person in Iran or in property (including 
entities) owned or controlled by the Government of Iran is prohibited.

    7. Section 560.208 is revised to read as follows:


Sec. 560.208  Prohibited facilitation by United States persons of 
transactions by foreign persons.

    Except as otherwise authorized pursuant to this part, and 
notwithstanding any contract entered into or any license or permit 
granted prior to May 7, 1995, no United States person, wherever 
located, may approve, finance, facilitate, or guarantee any transaction 
by a foreign person where the transaction by that foreign person would 
be prohibited by this part if performed by a United States person or 
within the United States.

    8. Paragraphs (c) and (d) of Sec. 560.210 are revised to read as 
follows:


Sec. 560.210  Exempt transactions.

* * * * *
    (c) Information and informational materials. (1) The importation 
from any country and the exportation to any country of information and 
informational materials as defined in Sec. 560.315, whether commercial 
or otherwise, regardless of format or medium of transmission, are 
exempt from the prohibitions and regulations of this part.
    (2) This section does not exempt from regulation or authorize 
transactions related to information and informational materials not 
fully created and in existence at the date of the transactions, or to 
the substantive or artistic alteration or enhancement of informational 
materials, or to the provision of marketing and business consulting 
services. Transactions that are prohibited notwithstanding this section 
include, but are not limited to, payment of advances for information 
and informational materials not yet created and completed (with the 
exception of prepaid subscriptions for widely circulated magazines and 
other periodical publications), provision of services to market, 
produce or co-produce, create or assist in the creation of information 
and informational materials, and payment of royalties to persons in 
Iran or to the Government of Iran.
    (3) This section does not exempt from regulation or authorize 
transactions incident to the exportation of software subject to the 
Export Administration Regulations (15 CFR parts 730-774).
    (4) This section does not exempt from regulation or authorize the 
exportation of goods (including software) or technology or the sale or 
leasing of telecommunications transmission facilities (such as 
satellite links or dedicated lines) where such exportation, sale or 
leasing is for use in the transmission of any data.
    (d) Travel. The prohibitions contained in this part do not apply to 
transactions ordinarily incident to travel to or from any country, 
including importation of accompanied baggage for personal use, 
maintenance within any country including payment of living expenses and 
acquisition of goods or services for personal use, and arrangement or 
facilitation of such travel including nonscheduled air, sea, or land 
voyages. This exemption extends to transactions with Iranian carriers 
and those involving group tours and payments in Iran made for 
transactions directly incident to travel.
* * * * *

Subpart C--Definitions

    9. Section 560.301 is revised to read as follows:


Sec. 560.301  Effective date.

    The effective date of the prohibitions and directives contained in 
subpart B of this part is 12:01 a.m., Eastern Daylight Time, August 20, 
1997. For the effective date of pre-existing regulations and 
directives, see the Executive orders in the Authority citation for this 
part and implementing regulations.

    10. Section 560.306 is revised to read as follows:


Sec. 560.306  Iranian-origin goods or services; Goods or services owned 
or controlled by the Government of Iran.

    (a) The terms goods of Iranian origin and Iranian-origin goods 
include:
    (1) Goods grown, produced, manufactured, extracted, or processed in 
Iran; and
    (2) Goods which have entered into Iranian commerce.
    (b) The terms services of Iranian origin and Iranian-origin 
services include:
    (1) Services performed in Iran or by an entity organized under the 
laws of Iran, or a person residing in Iran; and
    (2) Services performed outside Iran by a citizen, national or 
permanent resident of Iran who is ordinarily resident in Iran, or by an 
entity organized under the laws of Iran.
    (c) The term goods or services owned or controlled by the 
Government of Iran includes:
    (1) Goods grown, produced, manufactured, extracted or processed by 
the Government of Iran or goods in its possession or control; and
    (2) Services performed by the Government of Iran.
    (d) The terms services of Iranian-origin, Iranian-origin services, 
and services owned or controlled by the Government of Iran do not 
include:
    (1) Diplomatic and consular services performed by or on behalf of 
the Government of Iran;
    (2) Diplomatic and consular services performed by or on behalf of 
the Government of the United States; or
    (3) Services performed outside Iran by an Iranian citizen or 
national who is resident in the United States or a third country, 
provided such services are not performed by or on behalf of the 
Government of Iran (other than diplomatic and consular services), an 
entity organized under the laws of Iran, or a person located in Iran.

    11. Section 560.308 is revised to read as follows:


Sec. 560.308  Importation of goods.

    With respect to goods (including software), the term importation 
means the bringing of any goods into the United States, except that in 
the case of goods transported by vessel, importation means the bringing 
of any goods into the United States with the intent to unlade them.

    12. Section 560.315 is amended to revise the section heading and 
paragraphs (a) introductory text, (b) introductory text, and (b)(1) to 
read as follows:


Sec. 560.315  Information and informational materials.

    (a) The term information and informational materials includes:
* * * * *
    (b) The term information and informational materials, with respect 
to exports, does not include items:
    (1) That were, as of April 30, 1994, or that thereafter become, 
controlled for export pursuant to section 5 of the Export 
Administration Act of 1979 (50 U.S.C. App. 2401-2420, the ``EAA''), or 
section 6 of the EAA to the extent that such controls promote the 
nonproliferation or antiterrorism policies of the United States; or
* * * * *

Sec. 560.318  [Removed and reserved]

    13. Section 560.318 is removed and reserved.

    14. Section 559.319 is revised to read as follows:


Sec. 560.319  United States depository institution.

    The term United States depository institution means any entity 
(including

[[Page 20172]]

its foreign branches) organized under the laws of any jurisdiction 
within the United States, or any agency, office or branch located in 
the United States of a foreign entity, that is engaged primarily in the 
business of banking (for example, banks, savings banks, savings 
associations, credit unions, trust companies and United States bank 
holding companies).

Subpart D--Interpretations

    15. Section 560.403 is added to subpart D to read as follows:


Sec. 560.403  Transshipment through Iran.

    The prohibitions in Secs. 560.204, 560.206 and 560.208 apply to 
export, reexport or supply transactions which require a transshipment 
or transit of goods or technology through Iran to third countries.

    16. Section 560.406 is revised to read as follows:


Sec. 560.406  Transshipment or transit through United States 
prohibited.

    (a) The prohibitions in Sec. 560.201 apply to the importation into 
the United States, for transshipment or transit, of Iranian-origin 
goods or goods owned or controlled by the Government of Iran which are 
intended or destined for third countries.
    (b) The prohibitions in Sec. 560.204 apply to the transshipment or 
transit of foreign goods through the United States which are intended 
or destined for Iran or the Government of Iran, including entities 
owned or controlled by the Government of Iran.

    17. Section 560.410 is revised to read as follows:


Sec. 560.410  Exportation, reexportation, sale or supply of services.

    (a) The prohibition on the exportation, reexportation, sale or 
supply of services contained in Sec. 560.204 applies to services 
performed on behalf of a person in Iran or the Government of Iran or 
where the benefit of such services is otherwise received in Iran, if 
such services are performed:
    (1) In the United States, or
    (2) Outside the United States by a United States person, including 
by an overseas branch of an entity located in the United States.
    (b) The benefit of services performed anywhere in the world on 
behalf of the Government of Iran is presumed to be received in Iran.
    (c) Example. A United States person is engaged in a prohibited 
exportation of services to Iran when it extends credit to a third-
country firm specifically to enable that firm to manufacture goods for 
sale to Iran or for an entity of the Government of Iran. See also 
Sec. 560.416.

Sec. 560.411  [Removed and reserved]

    18. Section 560.411 is removed and reserved.

    19. Section 560.412 is revised to read as follows:


Sec. 560.412  Extensions of credit or loans to Iran.

    (a) The prohibitions contained in Secs. 560.204 and 560.207 apply 
to but are not limited to the unauthorized renewal or rescheduling of 
credits or loans in existence as of May 6, 1995, such as the extension 
of a standby letter of credit.
    (b) The prohibitions contained in Sec. 560.209 apply, among other 
things, to the unauthorized renewal or rescheduling of credits or loans 
in existence as of March 15, 1995.
    (c) The prohibitions contained in Secs. 560.204, 560.207 and 
560.209 apply to, among other things, credits or loans in any currency.

    20. Section 560.414 is revised to read as follows:


Sec. 560.414  Reexportation of certain U.S.-origin goods exported prior 
to May 7, 1995.

    The prohibitions on reexportation in Sec. 560.205 do not apply to 
United States-origin goods or technology that were exported from the 
United States prior to 12:01 a.m., Eastern Daylight Time, May 7, 1995, 
if:
    (a) Such goods or technology were not the property of a United 
States person as of 12:01 a.m. Eastern Daylight Time, May 7, 1995; and
    (b) The reexportation of the U.S.-origin goods or technology to 
Iran or the Government of Iran was not subject to reexport (as opposed 
to export) license application requirements under U.S. regulations in 
effect prior to May 6, 1995.
    Notes to Sec. 560.414.
    1. The exclusion in this section applies, among other things, to 
goods that were as of May 6, 1995, classified under the U.S. 
Department of Commerce's Export Administration Regulations (15 CFR 
parts 730-774) as ECCNs 2A994; 3A993; 5A992; 5A995; 6A990; 6A994; 
7A994; 8A992; 8A994; 9A990; 9A992; and 9A994, that were exported 
from the United States prior to 12:01 a.m. Eastern Daylight Time, 
May 7, 1995, and were not the property of a United States person as 
of 12:01 a.m. Eastern Daylight Time, May 7, 1995. As of April 26, 
1999, items covered by this note are classified under ECCNs 2A994; 
3A992.a; 5A991.f; 5A992; 6A991; 6A998; 7A994; 8A992.d, .e, .f and 
.g; 9A990.a and .b; and 9A991.d and .e.
    2. A reexportation of U.S.-origin goods or technology which 
meets the conditions of paragraph (a) of this section, or which is 
not within the scope of Sec. 560.205, nevertheless may require 
specific authorization by other agencies of the U.S. Government for 
reexportation to Iran or the Government of Iran. For example, items 
which meet the conditions of paragraph (a) may nevertheless require 
an export license under the Enhanced Proliferation Control 
Initiative provisions of the Export Administration Regulations (15 
CFR part 744).

    21. Section 560.416 is added to subpart D to read as follows:


Sec. 560.416.  Brokering services.

    (a) For purposes of the prohibitions in Secs. 560.201, 560.204, 
560.205, 560.206 and 560.208, the term services includes performing a 
brokering function.
    (b) Examples. A person within the United States, or a United States 
person, wherever located, may not:
    (1) Act as broker for the provision of goods, services or 
technology, from whatever source, to or from Iran or the Government of 
Iran;
    (2) Act as broker for the purchase or swap of crude oil of Iranian 
origin or owned or controlled by the Government of Iran;
    (3) Act as broker for the provision of financing, a financial 
guarantee or an extension of credit by any person to Iran or the 
Government of Iran;
    (4) Act as a broker for the provision of financing, a financial 
guarantee or an extension of credit to any person specifically to 
enable that person to construct or operate a facility in Iran or owned 
or controlled by the Government of Iran; or
    (5) Act as a broker for the provision of financing, a financial 
guarantee, or an extension of credit to any person specifically to 
enable that person to provide goods, services, or technology intended 
for Iran or the Government of Iran.

    22. Section 560.417 is added to subpart D to read as follows:


Sec. 560.417  Facilitation; change of policies and procedures; referral 
of business opportunities offshore.

    With respect to Sec. 560.208, a prohibited facilitation or approval 
of a transaction by a foreign person occurs, among other instances, 
when a United States person:
    (a) Alters its operating policies or procedures, or those of a 
foreign affiliate, to permit a foreign affiliate to accept or perform a 
specific contract, engagement or transaction involving Iran or the 
Government of Iran without the approval of the United States person, 
where such transaction previously required approval by the United 
States person and such transaction by the foreign affiliate would be 
prohibited by this part if

[[Page 20173]]

performed directly by a United States person or from the United States;
    (b) Refers to a foreign person purchase orders, requests for bids, 
or similar business opportunities involving Iran or the Government of 
Iran to which the United States person could not directly respond as a 
result of the prohibitions contained in this part; or
    (c) Changes the operating policies and procedures of a particular 
affiliate with the specific purpose of facilitating transactions that 
would be prohibited by this part if performed by a United States person 
or from the United States.

    23. Section 560.418 is added to subpart D to read as follows:


Sec. 560.418  Release of technology or software in the United States or 
a third country.

    The release of technology or software in the United States, or by a 
United States person wherever located, to any person violates the 
prohibitions of this part if made with knowledge or reason to know the 
technology is intended for Iran or the Government of Iran, unless that 
technology or software meets the definition of information and 
informational materials in Sec. 560.315. See Sec. 560.511.
    Notes to Sec. 560.418.
    1. The U.S. Department of Commerce's Bureau of Export 
Administration requires a license for the release in the United 
States (or in a third country) to a foreign national of technology 
if both of the following conditions are met:
    (a) That technology would require a license for exportation (or 
reexportation) to the home country of the foreign national; and
    (b) The foreign national is not a citizen or permanent resident 
of the United States (or of the third country) or is not a protected 
individual under the Immigration and Naturalization Act (8 U.S.C. 
Sec. 1324(b)(a)(3)). See 15 CFR 734.2(b)(2)(ii) and 734.2(b)(5).
    2. The transfer to a foreign national of technology subject to 
regulations administered by the U.S. Department of State or other 
agencies of the U.S. Government may require authorization by those 
agencies.

    24. Section 560.419 is added to subpart D to read as follows:


Sec. 560.419  U.S. employment of persons normally located in Iran.

    The prohibitions in Sec. 560.201 make it unlawful to hire an 
Iranian national normally located in Iran to come to the United States 
solely or for the principal purpose of engaging in employment on behalf 
of an entity in Iran or as the employee of a U.S. person, unless that 
employment is authorized pursuant to a visa issued by the U.S. State 
Department or by Sec. 560.505. See also Sec. 560.418 with respect to 
the release of technology and software.

    25. Section 560.420 is added to subpart D to read as follows:


Sec. 560.420  Reexportation by non-U.S. persons of certain foreign-made 
products containing U.S.-origin goods or technology.

    For purposes of satisfying the de minimis content rule in 
Sec. 560.205(b)(2):
    (a) U.S.-origin goods (excluding software) falling within the 
definition in Sec. 560.205 must comprise less than 10 percent of the 
foreign-made good (excluding software);
    (b) U.S.-origin software falling within the definition in 
Sec. 560.205 must comprise less than 10 percent of the foreign-made 
software;
    (c) U.S.-origin technology falling within the definition in 
Sec. 560.205 must comprise less than 10 percent of the foreign-made 
technology; and,
    (d) In cases involving a complex product made of a combination of 
U.S.-origin goods (including software) and technology falling within 
the definition in Sec. 560.205, the aggregate value of all such U.S.-
origin goods (including software) and such technology contained in the 
foreign-made product must be less than 10 percent of the total value of 
the foreign-made product.
    Notes to Sec. 560.420.
    1. Notwithstanding the exceptions contained in 
Sec. 560.205(b)(1) and (b)(2) and this section, a reexportation to 
Iran or the Government of Iran of U.S.-origin items falling within 
the definition in Sec. 560.205 is prohibited if those U.S.-origin 
goods (including software) or that technology have been 
substantially transformed or incorporated into a foreign-made end 
product which is destined to end uses or end users prohibited under 
regulations administered by other U.S. Government agencies. See, 
e.g., the Export Administration Regulations (31 CFR 736.2(b)(5), 
744.2, 744.3, 744.4, 744.7, and 744.10); International Traffic in 
Arms Regulations (22 CFR 123.9).
    2. A reexportation not prohibited by Sec. 560.205 may 
nevertheless require authorization by the U.S. Department of 
Commerce, the U.S. Department of State or other agencies of the U.S. 
Government.
    3. The provisions of Sec. 560.205 and this section apply only to 
persons other than United States persons.

Subpart E--Licenses, Authorizations and Statements of Licensing 
Policy

    26. Section 560.501 is amended by adding paragraphs (d) and (e) to 
read as follows:


Sec. 560.501  Effect of license or authorization.

* * * * *
    (d) Specific licenses issued prior to 12:01 a.m., Eastern Daylight 
Time, August 20, 1997, continue in effect in accordance with their 
terms except to the extent specifically revoked, amended, or modified 
by the Office of Foreign Assets Control.
    (e) Nothing contained in this part shall be construed to supersede 
the requirements established under any other provision of law or to 
relieve a person from any requirement to obtain a license or other 
authorization from another department or agency of the U.S. Government 
in compliance with applicable laws and regulations subject to the 
jurisdiction of that department or agency. For example, exports of 
goods, services, or technical data which are not prohibited by this 
part or which do not require a license by the Office of Foreign Assets 
Control, nevertheless may require authorization by the U.S. Department 
of Commerce, the U.S. Department of State or other agencies of the U.S. 
Government. See also Sec. 560.701(d).

    27. Section 560.505 is revised to read as follows:


Sec. 560.505  Importation of certain Iranian-origin services 
authorized; activities related to certain visa categories authorized.

    (a) The importation of Iranian-origin services into the United 
States or other dealing in such services is authorized where such 
services are performed in the United States by an Iranian citizen or 
national for the purpose of, or which directly relate to, participating 
in a public conference, performance, exhibition or similar event, and 
such services are consistent with that purpose.
    (b) Persons otherwise qualified for a non-immigrant visa under 
categories A-3 and G-5 (attendants, servants and personal employees of 
aliens in the United States on diplomatic status), D (crewmen), F 
(students), I (information media representatives), J (exchange 
visitors), M (non-academic students), O and P (aliens with 
extraordinary ability, athletes, artists and entertainers), Q 
(international cultural exchange visitors), R (religious workers), or S 
(witnesses) are authorized to carry out in the United States those 
activities for which such a visa has been granted by the U.S. State 
Department.
    (c) Persons otherwise qualified for a visa under categories E-2 
(treaty investor), H-1b (temporary worker), or L (intra-company 
transferee) and all immigrant visa categories are authorized to carry 
out in the United States those activities for which such a visa has 
been granted by the U.S. State Department, provided that the persons 
are not coming to the United States to work as an agent, employee or 
contractor of the Government of Iran or a business entity or other 
organization in Iran.


[[Page 20174]]


    28. Section 560.506 is revised to read as follows:


Sec. 560.506  Importation and exportation of certain gifts authorized.

    The importation into the United States of Iranian-origin goods from 
Iran or a third country, and the exportation from the United States to 
Iran of goods, are authorized for goods sent as gifts to persons 
provided that the value of the gift is not more than $100; the goods 
are of a type and in quantities normally given as gifts between 
individuals; and the goods are not controlled for chemical and 
biological weapons (CB), missile technology (MT), national security 
(NS), or nuclear proliferation (NP). See Commerce Control List, Export 
Administration Regulations (15 CFR part 774).

    29. Section 560.509 is amended by revising paragraph (a)(1) as 
follows:


Sec. 560.509  Certain transactions related to patents, trademarks and 
copyrights authorized.

    (a) * * *
    (1) The filing and prosecution of any application to obtain a 
patent, trademark, copyright or other form of intellectual property 
protection, including importation of or dealing in Iranian-origin 
services, payment for such services, and payment to persons in Iran 
directly connected to such intellectual property protection;
* * * * *

    30. Section 560.511 is added to read as follows:


Sec. 560.511  Exportation or supply of insubstantial United States 
content for use in foreign-made products or technology.

    (a) Except as provided in paragraph (b) of this section and 
notwithstanding the prohibitions in Sec. 560.204, the exportation or 
supply of goods or technology from the United States, or by a United 
States person wherever located, for substantial transformation or 
incorporation into a foreign-made end product in a country other than 
the United States or Iran, intended specifically or predominantly for 
Iran or the Government of Iran, is permitted under this part where the 
exporter has ascertained that all of the following are the case:
    (1) The U.S.-origin goods or technology being exported for 
substantial transformation or incorporation abroad were not subject to 
export license application requirements under any United States 
regulations in effect on May 6, 1995, or were not thereafter made 
subject to such regulations imposed independently of this part;
    (2) With respect to the foreign-made end product:
    (i) U.S.-origin goods (excluding software) comprise less than 10 
percent of the foreign-made good (excluding software);
    (ii) U.S.-origin software comprises less than 10 percent of the 
foreign-made software;
    (iii) U.S.-origin technology comprises less than 10 percent of the 
foreign-made technology; and
    (iv) In cases involving a complex product made of a combination of 
goods (including software) and technology, the aggregate value of all 
U.S.-origin goods (including software) and technology contained in the 
foreign-made end product is less than 10 percent of the total value of 
the foreign-made product;
    (3) The foreign-made end product is not destined to end uses or end 
users prohibited under regulations administered by other U.S. 
Government agencies. See, e.g., the Export Administration Regulations 
(31 CFR 736.2(b)(5), 744.2, 744.3, 744.4, 744.7, and 744.10); 
International Traffic in Arms Regulations (22 CFR 123.9);
    (4) The foreign-made end product is not intended for use in the 
Iranian petroleum or petrochemical industry. For this purpose, products 
intended for use in the Iranian petroleum or petrochemical industry 
include not only products uniquely suited for use in those industries, 
such as oilfield services equipment, but also goods and technology for 
use in products, such as computers, office equipment, construction 
equipment, or building materials, which are suitable for use in other 
industries but which are intended specifically for use in the petroleum 
or petrochemical industries.
    (b) The authorization contained in this section is not available if 
the foreign-made end product is of a type which other U.S. Government 
agencies make ineligible for de minimis U.S.-origin content. See, e.g., 
the Export Administration Regulations (15 CFR 734.4(a) and (b)); 
International Traffic in Arms Regulations (22 CFR 123.9).
    Note to Sec. 560.511. An exportation authorized by this section 
may nevertheless require authorization by the U.S. Department of 
Commerce, the U.S. Department of State or other agencies of the U.S. 
Government.

    31. Paragraph (d) of Sec. 560.515 removed, and paragraph (a) is 
revised to read as follows:


Sec. 560.515  30-day delayed effective date for pre-May 7, 1995 trade 
contracts involving Iran.

    (a) All transactions necessary to complete performance of a trade 
contract entered into prior to May 7, 1995, and involving Iran (a pre-
existing trade contract), including the exportation of goods, services 
(including financial services), or technology from the United States 
that was authorized pursuant to Federal regulations in force 
immediately prior to May 6, 1995, or performance under a pre-existing 
trade contract for transactions in Iranian-origin or Government of 
Iran-owned or controlled goods or services that do not involve 
importation into the United States, are authorized without specific 
licensing by the Office of Foreign Assets Control if the conditions in 
paragraph (a)(1) or (a)(2) of this section are met:
    (1) If the pre-existing trade contract is for an exportation of 
goods or technology from the United States that was authorized pursuant 
to Federal regulations in force immediately prior to May 6, 1995, the 
goods or technology must be exported from the United States prior to 
12:01 a.m. Eastern Daylight Time, June 6, 1995, and all other activity 
by U.S. persons that is necessary and incidental to the performance of 
the pre-existing trade contract (other than payment under a financing 
contract) must be completed prior to 12:01 a.m. Eastern Daylight Time, 
August 6, 1995; or
    (2) All obligations under a pre-existing trade contract (other than 
payment under a financing contract) must be fully completed prior to 
12:01 a.m. Eastern Daylight Time, June 6, 1995, if the pre-existing 
trade contract is for one of the following:
    (i) The exportation of services from the United States benefitting 
a person in Iran or the Government of Iran;
    (ii) The reexportation of goods or technology to Iran, the 
Government of Iran, or an entity owned or controlled by the Government 
of Iran that was authorized pursuant to Federal regulations in force 
immediately prior to May 6, 1995; or
    (iii) Transactions relating to goods or services of Iranian origin 
or owned or controlled by the Government of Iran other than 
transactions relating to importation into the United States of such 
goods or services.
* * * * *

    32. Section 560.516 is amended by revising paragraphs (a)(3), 
(a)(4), and (b) to read as follows:


Sec. 560.516  Payment and United States dollar clearing transactions 
involving Iran.

    (a) * * *
    (3) The transfer arises from an underlying transaction that is not 
prohibited by this part, such as a non-commercial remittance to or from 
Iran (e.g., a family remittance not related to a family-owned 
enterprise); a U.S.-

[[Page 20175]]

related commercial transfer not prohibited by this part (see, e.g., 
Sec. 560.515(b)); or a third-country transaction not prohibited by this 
part; or
    (4) The transfer arises from an underlying transaction that is 
exempted from regulation pursuant to Sec. 203(b) of the International 
Emergency Economic Powers Act (50 U.S.C. 1702(b)), such as an 
exportation to Iran or importation from Iran of information and 
informational materials, a travel-related remittance, or payment for 
the shipment of a donation of articles to relieve human suffering.
    (b) Before a United States depository institution initiates a 
payment on behalf of any customer, or credits a transfer to the account 
on its books of the ultimate beneficiary, the United States depository 
institution must determine that the underlying transaction is not 
prohibited by this part.
* * * * *

    33. Section 560.523 is revised to read as follows:


Sec. 560.523  Exportation of equipment and services relating to 
information and informational materials.

    Specific licenses may be issued on a case-by-case basis for the 
exportation of equipment and services necessary for the establishment 
of news wire feeds or other transmissions of information and 
informational materials.

    34. Section 560.529 is added to subpart E to read as follows:


Sec. 560.529  Bunkering and emergency repairs.

    Goods or services provided in the United States to a non-Iranian 
carrier transporting passengers or goods to or from Iran are 
permissible if they are:
    (a) Bunkers or bunkering services;
    (b) Supplied or performed in the course of emergency repairs; or
    (c) Supplied or performed under circumstances which could not be 
anticipated prior to the carrier's departure for the United States.

    35. An appendix to this part is added at the end thereof to read as 
follows:

Appendix to Part 560--Financial Institutions Determined to be Owned 
or Controlled by the Government of Iran

    This appendix lists financial institutions determined by the 
Office of Foreign Assets Control to be entities owned or controlled 
by the Government of Iran within the meaning of Sec. 560.313. The 
names and addresses represent the most complete list available at 
this time. Unless otherwise indicated, the financial institutions 
listed below are considered to be entities owned or controlled by 
the Government of Iran when they operate, not only from the 
locations listed below, but also from any other location. The names 
and addresses are subject to change, and the Office of Foreign 
Assets Control will update the list as needed.

1. AGRICULTURAL COOPERATIVE BANK OF IRAN (a.k.a. BANK TAAVON 
KESHAVARZI IRAN), No. 129 Patrice Lumumba Street, Jalal-Al-Ahmad 
Expressway, P.O. Box 14155/6395, Tehran, Iran
2. AGRICULTURAL DEVELOPMENT BANK OF IRAN (a.k.a. BANK JOSIAIYI 
KESHAHVARZI), Farahzad Expressway, Tehran, Iran
3. BANK JOSIAIYI KESHAHVARZI (a.k.a. AGRICULTURAL DEVELOPMENT BANK 
OF IRAN), Farahzad Expressway, Tehran, Iran
4. BANK MARKAZI JOMHOURI ISLAMI IRAN (a.k.a. THE CENTRAL BANK OF 
IRAN), Ferdowsi Avenue, P.O. Box 11365-8551, Tehran, Iran
5. BANK MASKAN (a.k.a. HOUSING BANK (of Iran)), Ferdowsi St., 
Tehran, Iran
6. BANK MELLAT, Park Shahr, Varzesh Avenue, P.O. Box 11365/5964, 
Tehran, Iran, and all offices worldwide, including, but not limited 
to:
a. BANK MELLAT (Branch), Ziya Gokalp Bulvari No. 12, Kizilay, 
Ankara, Turkey
b. BANK MELLAT (Branch), Binbir Cicek Sokak, Buyukdere Caddesi, P.O. 
Box 67, Levant, Istanbul, Turkey
c. BANK MELLAT (Branch), 48 Gresham Street, London EC2V 7AX, England
7. BANK MELLI, P.O. Box 11365-171, Ferdowsi Avenue, Tehran, Iran, 
and all offices worldwide, including, but not limited to:
a. BANK MELLI (Branch), 4 Moorgate, London EC2R 6AL, England
b. BANK MELLI (Branch), Schadowplatz 12, 4000 Dusseldorf 1, Germany
c. BANK MELLI (Branch), Friedenstrasse 4, P.O. Box 160 154, 6000 
Frankfurt am Main, Germany
d. BANK MELLI (Branch), P.O. Box 112129, Holzbruecke 2, 2000 Hamburg 
11, Germany
e. BANK MELLI (Branch), Odeonsplatz 18, 8000 Munich 22, Germany
f. BANK MELLI (Branch), 43 Avenue Montaigne, 75008 Paris, France
g. BANK MELLI (Branch), 601 Gloucester Tower, The Landmark, 11 
Pedder Street, P.O. Box 720, Hong Kong
h. BANK MELLI (Representative Office), 333 New Tokyo Building, 3-1 
Marunouchi, 3-chome, Chiyoda-ku, Tokyo, Japan
i. BANK MELLI (Representative Office), 818 Wilshire Boulevard, Los 
Angeles, California 90017, U.S.A
j. BANK MELLI (Representative Office), 767 Fifth Avenue, 44th Floor, 
New York, New York 10153, U.S.A
k. BANK MELLI (Representative Office), Smolensky Boulevard 22/14, 
Kv. S., Moscow, Russia
l. BANK MELLI (Branch), Flat No. 1, First Floor, 8 Al Sad El-Aaly, 
Dokki, P.O. Box 2654, Cairo, Egypt
m. BANK MELLI (Branch), Ben Yas Street, P.O. Box No. 1894, Riga 
Deira, Dubai, U.A.E
n. BANK MELLI (Branch), P.O. Box 2656, Shaikha Maryam Building, Liwa 
Street, Abu Dhabi, U.A.E
o. BANK MELLI (Branch), B.P.O. Box 1888, Clock Tower, Industrial 
Road, Al-Ain Club Building in from Emertel Al Ain, Al Ain, Abu 
Dhabi, U.A.E
p. BANK MELLI (Branch), P.O. Box 1894, Riqa, Ban Yas Street, Deira, 
Dubai, U.A.E
q. BANK MELLI (Branch), Mohd-Habib Building, Al-Fahidi Street, P.O. 
Box 3093, Bur Dubai, Dubai, U.A.E
r. BANK MELLI (Branch), P.O. Box 248, Fujairah, U.A.E
s. BANK MELLI (Branch), Sami Sagar Building Oman Street Al-Nakheel, 
P.O. Box 5270, Ras-Al Khaimah, U.A.E
t. BANK MELLI (Branch), P.O. Box 459, Al Bory Street, Sharjah, 
U.A.E.
u. BANK MELLI (Branch), P.O. Box 785, Government Road, Shaikh 
Mubarak Building, Manama, Bahrain
v. BANK MELLI (Branch), P.O. Box 23309, Shaikh Salman Street, Road 
No. 1129, Muharraq 211, Bahrain
w. BANK MELLI (Branch), P.O. Box 5643, Mossa Abdul Rehman Hassan 
Building, 238 Al Burj St., Ruwi, Muscat, Oman
8. BANK OF INDUSTRY AND MINE (of Iran) (a.k.a. BANK SANAT VA MADAN), 
Hafez Avenue, P.O. Box 11365/4978, Tehran, Iran
9. BANK REFAH KARGARAN (a.k.a. WORKERS WELFARE BANK (of Iran)), 
Moffettah No. 125, P.O. Box 15815 1866, Tehran, Iran
10. BANK SADERAT IRAN, Bank Saderat Tower, P.O. Box 15745-631, 
Somayeh Street, Tehran, Iran, and all offices worldwide, including, 
but not limited to:
a. BANK SADERAT IRAN (Branch), Hamdam Street, Airport Road 
Intersection, P.O. Box 700, Abu Dhabi, U.A.E
b. BANK SADERAT IRAN (Branch), Al-Am Road, P.O. Box 1140, Al Ein, 
Abu Dhabi, U.A.E
c. BANK SADERAT IRAN (Branch), Liwara Street, P.O. Box 16, Ajman, 
U.A.E
d. BANK SADERAT IRAN (Branch), 3rd Floor Dom Dasaf Building, Mejloka 
Street 7A, Ashkhabad, Turkmenistan
e. BANK SADERAT IRAN (Branch), 25-29 Panepistimiou Street, P.O. Box 
4308, GR-10210, Athens 10672, Greece
f. BANK SADERAT IRAN (Branch), Imam Ali Street, Sahat Yaghi, Ras 
Elain-Alektisad Building 2nd Floor, Baalbeck, Lebanon
g. BANK SADERAT IRAN (Branch and Offshore Banking Unit), 106 
Government Road, P.O. Box 825, Manama Town 316, Bahrain
h. BANK SADERAT IRAN (Branch), Hamra Pavillion Street, Savvagh and 
Daaboul Building 1st Floor, P.O. Box 113-6717, Beirut, Lebanon
i. BANK SADERAT IRAN (Branch), Alghobairi Boulevard, Beirut, Lebanon
j. BANK SADERAT IRAN (Branch), 28 Sherif Street, P.O. Box 462, 
Cairo, Egypt
k. BANK SADERAT IRAN (Branch), Old Ben-Ghanem Street (next to God 
Market), P.O. Box 2256, Doha, Qatar
l. BANK SADERAT IRAN (Branch), Almaktoum Road, P.O. Box 4182, Deira, 
Dubai, U.A.E

[[Page 20176]]

m. BANK SADERAT IRAN (Branch), Bazar Murshid, P.O. Box 4182, Deira, 
Dubai, U.A.E
n. BANK SADERAT IRAN (Branch), Alfahid Road, P.O. Box 4182, Bur 
Dubai, Dubai, U.A.E
o. BANK SADERAT IRAN (Branch), Sherea Shekikh Zayad Street, P.O. Box 
55, Fujairah, U.A.E
p. BANK SADERAT IRAN (Branch), Wilhelm Leuschner Strasse 41, P.O. 
Box 160151, W-6000 Frankfurt am Main, Germany
q. BANK SADERAT IRAN (Branch), P.O. Box 112227, Hopfenhof Passage, 
Kleiner Bustah 6-10, W-2000 Hamburg 11, Germany
r. BANK SADERAT IRAN (Branch), Lothbury, London EC2R 7HD, England
s. BANK SADERAT IRAN (Representative Office), 707 Wilshire 
Boulevard, Suite 4880, Los Angeles, California 90017, U.S.A
t. BANK SADERAT IRAN (Representative Office), 55 East 59th Street, 
16th Floor, New York, New York 10022, U.S.A.
u. BANK SADERAT IRAN (Branch), P.O. Box 4269, Mutrah, Muscat, Oman
v. BANK SADERAT IRAN (Branch), 16 Rue de la Paix, Paris 2eme, 75002 
Paris, France
w. BANK SADERAT IRAN (Branch), Alaroba Road, P.O. Box 316, Sharjah, 
U.A.E
11. BANK SANAT VA MADAN (a.k.a. BANK OF INDUSTRY AND MINE (of 
Iran)), Hafez Avenue, P.O. Box 11365/4978, Tehran, Iran
12. BANK SEPAH, Emam Khomeini Square, P.O. Box 11364, Tehran, Iran, 
and all offices worldwide, including, but not limited to:
a. BANK SEPAH (Branch), Muenchener Strasse 49, P.O. Box 10 03 47, W-
6000 Frankfurt am Main 1, Germany
b. BANK SEPAH (Branch), 5/7 Eastcheap, EC3M 1JT London, England
c. BANK SEPAH (Representative Office), 650 Fifth Avenue, New York, 
New York 10019, U.S.A
d. BANK SEPAH (Branch), 17 Place Vendome, 75001 Paris, France.
e. BANK SEPAH (Branch), Via Barberini 50, 00187 Rome, Italy
f. BANK SEPAH (Representative Office), Ufficio di Rappresentan Za, 
Via Ugo Foscolo 1, 20121 Milan, Italy
13. BANK TAAVON KESHAVARZI IRAN (a.k.a. AGRICULTURAL COOPERATIVE 
BANK OF IRAN) No. 129 Patrice Lumumba Street, Jalal-Al-Ahmad 
Expressway, P.O. Box 14155/6395, Tehran, Iran
14. BANK TEJARAT, 130 Taleghani Avenue, Nejatoullahie, P.O. Box 
11365-5416, Tehran, Iran, and all offices worldwide, including, but 
not limited to:
a. BANK TEJARAT (Branch), 6/8 Clements Lane, London EC4N 7AP, 
England
b. BANK TEJARAT (Branch), 44 Avenue des Champs Elysees, 75008 Paris, 
France
15. DEUTSCH-IRANISCHE HANDELSBANK AG (n.k.a. EUROPAEISCH-IRANISCHE 
HANDELSBANK AG) Depenau 2, W-2000 Hamburg 1, Germany, and all 
offices worldwide, including, but not limited to:
a. DEUTSCH-IRANISCHE HANDELSBANK AG (n.k.a. EUROPAEISCH-IRANISCHE 
HANDELSBANK AG) (Representative Office), 23 Argentine Square, 
Beihaghi Bulvard, P.O. Box 15815/1787, Tehran 15148, Iran
16. EUROPAEISCH-IRANISCHE HANDELSBANK AG (f.k.a. DEUTSCH-IRANISCHE 
HANDELSBANK AG) Depenau 2, W-2000 Hamburg 1, Germany, and all 
offices worldwide, including, but not limited to:
a. EUROPAEISCH-IRANISCHE HANDELSBANK AG (f.k.a. DEUTSCH-IRANISCHE 
HANDELSBANK AG) (Representative Office), 23 Argentine Square, 
Beihaghi Bulvard, P.O. Box 15815/1787, Tehran 15148, Iran
17. HOUSING BANK (of Iran) (a.k.a. BANK MASKAN), Ferdowsi St., 
Tehran, Iran
18. IRAN OVERSEAS INVESTMENT BANK LIMITED (f.k.a. IRAN OVERSEAS 
INVESTMENT CORPORATION LIMITED), 120 Moorgate, London EC2M 6TS, 
England, and all offices worldwide, including, but not limited to:
a. IRAN OVERSEAS INVESTMENT BANK LIMITED (Representative Office), 
1137 Avenue Vali Asr off Park-e-SAll, P.O. Box 15115/531, Tehran, 
Iran
b. IRAN OVERSEAS INVESTMENT BANK LIMITED (Agency), Suite 3c Olympia 
House, 61/63 Dame Street, Dublin 2, Ireland
c. IRAN OVERSEAS INVESTMENT BANK LIMITED (Agency), Improgetti, Via 
Germanico 24, 00192 Rome, Italy
d. IRAN OVERSEAS TRADING COMPANY LIMITED (Subsidiary), 120 Moorgate, 
London EC2M 6TS, England
e. IRAN OVERSEAS INVESTMENT CORPORATION LIMITED (n.k.a. IRAN 
OVERSEAS INVESTMENT BANK LIMITED), 120 Moorgate, London EC2M 6TS, 
England
19. THE CENTRAL BANK OF IRAN (a.k.a. BANK MARKAZI JOMHOURI ISLAMI 
IRAN), Ferdowsi Avenue, P.O. Box 11365-8551, Tehran, Iran
20. WORKERS WELFARE BANK (of Iran) (a.k.a. BANK REFAH KARGARAN), 
Moffettah No. 125, P.O. Box 15815 1866, Tehran, Iran

    Dated: March 25, 1999.
R. Richard Newcomb,
Director, Office of Foreign Assets Control.
    Approved: March 31, 1999.
Elisabeth A. Bresee,
Assistant Secretary (Enforcement), Department of the Treasury.
[FR Doc. 99-10179 Filed 4-21-99; 4:01 pm]
BILLING CODE 4810-25-F