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F ederal

reserve

Bank

DALLAS, TEXAS

of

Dallas

75222

Circular No. 80-84
April 30, 1980

IRANIAN ASSETS CONTROL REGULATIONS
TO ALL MEMBER BANKS IN THE
ELEVENTH FEDERAL RESERVE DISTRICT:
Enclosed is an amendment to the Treasury Departm ent's Iranian
Assets Control Regulations.

The purpose of the amendments, which is

effective April 17, 1980, is to impose additional prohibitions on dealings
with Iran.
Sincerely yours,
Robert H. Boykin
First Vice President
Enclosure

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

26940

Federal Register / Vol. 45, No. 78 / Monday, April 21,1980 / Rules and Regulations

DEPARTMENT OF TREASURY
Office of Foreign Assets Control
31 CFR Part 535
Iranian Assets Control Regulations;
Additional Prohibitions
agency: O ffice o f F oreign A ss e ts
C ontrol, D e p a rtm e n t o f th e T reasu ry .
a c tio n : F in al rule.
Summary: T h e O ffice o f F o reign A s s e ts
C o n tro l is am e n d in g th e Ira n ia n A sse ts
C on trol R eg u latio n s. T h e p u rp o se o f th e
a m e n d m e n t is to im p o se a d d itio n a l
p ro h ib itio n s o n d e alin g s w ith Iran . T h e
n e e d fo r th e a m e n d m e n t is to im p lem en t
th e p ro v isio n s o f E x ecu tiv e O rd e r No.
12211, sig n ed b y th e P re s id e n t o n A p ril
17,1980. T h e effect o f th e a m e n d m e n t is
th a t im p o rts o f g o o d s from Ira n o r of
Ira n ia n origin m e rc h a n d is e a re
p ro h ib ite d ; th a t p a y m e n ts o r tra n s fe rs o f
fu n d s o r o th e r p ro p e rty to a n y p e rs o n in
Ira n a re p ro h ib ite d ; a n d th a t p a y m e n ts
a n d tra n s a c tio n s in s u p p o rt o f tra v e l to
a n d m a in te n a n c e w ith in Ira n o f U.S.
citiz en s a n d U.S. p e rm a n e n t re s id e n t
a lie n s a re p ro h ib ite d .
EFFECTIVE DATE: A p ril 17, 1980.
FOR FURTHER INFORMATION CONTACT:
D en n is M. O ’C onnell, C h ief C ounsel,
O ffice of F o reig n A ss e ts C ontrol,
D e p a rtm e n t o f th e T re asu ry ,
W ash in g to n , D.C. 20220, T el. 202/376­
0236.
SUPPLEMENTARY INFORMATION: Since th e
reg u latio n s in v o lv e a foreign a ffairs
fu n ctio n , th e p ro v isio n s o f th e
A d m in istra tiv e P ro c e d u re A ct, 5 U.S.C.
553, req u irin g n o tic e o f p ro p o s e d rule
m aking, o p p o rtu n ity fo r p ub lic
p a rtic ip a tio n a n d d e la y in effectiv e d a te
a re in a p p lic ab le.
T he p ro h ib itio n se t fo rth in n e w
§ 535.209 o n p a y m e n ts a n d tra n s a c tio n s
in su p p o rt o f tra v e l to a n d m a in te n a n c e
w ith in Ira n b y U.S. citiz e n s a n d
p e rm a n e n t re s id e n t a lie n s d o e s n o t
a p p ly to U.S. c itiz en s o r p e rm a n e n t
re s id e n t a lie n s w h o a re a lso c itiz en s of
Iran .
P a ra g ra p h (a) o f n e w § 535.562
a u th o riz e s im p o rts of n e w s m a te ria l b y
n e w sg a th e rin g ag en cies,
n o tw ith sta n d in g th e p ro h ib itio n s on
im p o rts in § 535.204. P a ra g ra p h (b) o f
$ 535.562 a u th o riz e s tra n s a c tio n s in
co n n e c tio n w ith n e w sg a th e rin g
a c tiv itie s o f jo u rn a lists a n d n e w s
c o rre sp o n d e n ts , n o tw ith sta n d in g th e
tra v e l a n d m a in te n a n c e p a y m e n t
re s tric tio n s o f § 535.209 a n d th e im po rt
re s tric tio n s o f § 535.204 a n d th e
p ro h ib itio n s in § 535.201 o n p a y m e n ts or
o th e r tra n s fe rs o f p ro p e rty in w h ic h Ira n
o r a n Ira n ia n e n tity h a s a n in te re s t.

In a d d itio n , n e w § 535.563 a u th o riz e s
re m itta n c e s to a n y clo se re la tiv e w h o is
a citiz en o f Ira n a n d w h o is a re s id e n t of
a n d w ith in Ira n n o tw ith sta n d in g th e n e w
p ro h ib itio n o n th e p a y m e n t o r tra n s fe r
o f a n y fu n d s o r o th e r p ro p e rty to a n y
p e rs o n in Iran . T h e p ro h ib itio n s do n o t
affect re m itta n c e s from Iran .
T h e n e w p ro h ib itio n s o n p a y m e n ts or
o th e r fin a n c ia l tra n s fe rs in
§ 535.206(a)(4) b a r s a n y w ith d ra w a l
from , o r d e b it to, a n a c c o u n t w ith in the
U n ite d S ta te s b y a p e rs o n in Ira n fo r
p u rp o s e s o f a n y tra n s fe r to a n y p e rs o n
in Iran. H o w e v e r, su ch a n a c c o u n t is n o t
a b lo c k e d a c c o u n t a n d m a y b e u s e d fo r
p a y m e n ts o r tra n s fe rs w ith in th e U n ite d
S ta tes.
31 CFR, P a rt 535 is a m e n d e d a s
follow s:
1. § 535.204 is a d d e d a s follow s:
§ 535.204 Imports from Iran or Iranian
merchandise.
E x c e p t a s sp ecifically a u th o riz e d b y
th e S e c re ta ry o f th e T re a s u ry (or b y a n y
p e rs o n , agen cy, o r in s tru m e n ta lity
d e s ig n a te d b y him ) b y m e a n s o f
re g u latio n s, rulings, in stru c tio n s,
lice n ses, o r o th e rw ise , n o m e rc h a n d is e ,
o th e r g o o d s o r se rv ic e s o f Ira n ia n origin
m a y b e im p o rte d into th e U n ite d S ta te s
if s u ch m e rc h a n d is e o r g o o d s a r e o r
h a v e b e e n lo c a te d in o r tr a n s p o rte d
from o r th ro u g h Ira n a fte r th e effectiv e
d a te o f th is sectio n .
2. § 535.206 is a m e n d e d b y th e
a d d itio n o f p a ra g ra p h (a)(4) a s follow s:
§ 535.206 Financial transactions.
(a) * * *
(4) M a k e a n y p a y m e n t, tra n s fe r o f
cred it, o r o th e r tr a n s fe r o f fu n d s o r o th e r
p ro p e rty o r in te re s ts th e re in to a n y
p e rs o n in Iran .

*

*

*

*

*

3. § 535.208 is a m e n d e d b y th e
a d d itio n o f p a ra g ra p h (c) a s follow s:
§ 535.208 Evasions; effective date.
*
*
*
*
*
(c) W ith re s p e c t to a n y a m e n d m e n ts
o f th e foregoing se c tio n s o r a n y o th e r
am e n d m e n ts to th is p a rt th e te rm
"effectiv e d a te ” sh a ll m e a n th e d a te of
filing w ith th e F e d e ra l R egister.
4. § 535.209 is a d d e d a s follow s:
S 535.209 Transactions Incident to travel
and maintenance of U.S. nationals In Iran
prohibited.
(a) T h e follo w ing a c tio n s b y p e rs o n s
s u b je c t to th e ju risd ic tio n o f th e U n ite d
S ta te s a re p ro h ib ited :
(1) A n y d ire c t o r in d ire c t p a y m e n t o r
tr a n s a c tio n (including a n y tra n sfe r,
o th e r d e a lin g in, o r u s e o f p ro p e rty )
e ith e r to, by, o n b e h a lf of, o r o th e r
o th e rw is e involving, a n y fo reig n c o u n try
o r a n y n a tio n a l th ereo f, w h ic h is

in c id e n t to tra v e l to, o r tra v e l or
m a in te n a n c e w ith in Ira n o f an y
in d iv id u a l w h o is a U.S. c itiz en o r U.S.
p e rm a n e n t re s id e n t alien.
(b) T h e p ro h ib itio n s o f p a ra g ra p h (a)
o f th is s e c tio n do n o t ap p ly to
tra n s a c tio n s in c id e n t to tra v e l or
m a in te n a n c e w ith in Ira n o f in d iv id u a ls
w h o a re citiz e n s of Iran .
(c) T h e effectiv e d a te of this
p ro h ib itio n , a s it re la te s to p a y m e n ts b y
o r fo r th e b e n e fit o f U.S. c itiz e n s o r U .S.
p e rm a n e n t re s id e n t a lie n s in Ira n is
A p ril 24,1980.
5. § 535.562 is a d d e d a s follow s:
$535,562

News material.

(a) Imports by newsgathering
agencies. T h e p u rc h a s e a n d im p o rta tio n
o f Ir a n ia n origin n e w s p a p e rs ,
m a g a z in e s, p h o to g ra p h s, film s, ta p es,
a n d o th e r n e w s m a te ria l o r c op ies
th e re o f b y n e w sg a th e rin g ag e n c ie s in
th e U n ite d S ta te s a re au th o rized ,
w ith o u t re s tric tio n a s to m e th o d of
p a y m e n t, p ro v id e d su ch m a te ria ls a re
in te n d e d fo r u s e in n e w s p u b lic a tio n or
n e w s b ro a d c a s t d issem in atio n :
(b) Newsgathering activities in Iran

by journalists and news correspondents.
T h e fo llow ing tra n s a c tio n s b y a
jo u rn a list o r o th e r p e rs o n w h o is
reg u larly e m p lo y e d b y a n e w sg a th e rin g
o r tra n sm ittin g o rg a n iz a tio n w h o tra v e ls
to Ira n o r is w ith in Ira n fo r th e p u rp o se s
o f g a th e rin g o r tran sm ittin g n ew s,
film ing n e w s o r m ak in g d o c u m e n ta ry
film s, o r sim ila r a c tiv itie s a re
a u th o rized :
(1) P a y m e n t o f e x p e n s e s fo r tra v e l to,
a n d m a in te n a n c e w ith in , Ira n fo r th e
p u rp o s e s o f g ath e rin g a n d tra n sm ittin g
n e w s to th e U n ite d S tate s; a n d
(2) T h e a c q u isitio n in Ira n for
tra n s m is s io n to a n d im p o rta tio n in to thfe
U n ite d S ta te s o f n e w s p a p e rs,
m a g azin es, p h o to g rap h s, film s, ta p es,
a n d o th e r n e w s m a te ria l o r c o p ies
th e reo f, n e c e s s a ry fo r th e jo u rn a listic
a ssig n m e n ts.
(3) W ith in 5 d a y s a fte r engaging in th e
in itia l tr a n s a c tio n w ith re s p e c t to a trip
to or s ta y w ith in Ira n c o v e re d b y th is
p a ra g ra p h , th e p e rs o n engaging in th e
tra n s a c tio n , o r the o rg a n iz a tio n by
w h ic h su ch p e rs o n is em p lo y ed , sh a ll
n o tify th e O ffice o f F oreign A ss e ts
C o ntrol. T h e n o tific a tio n sh a ll in c lu d e
th e n a m e o f th e p e rs o n u p o n w h o se
b e h a lf th e g e n e ra l lic e n se is b e in g u sed .
W ith in 5 d a y s a fte r h is d e p a rtu re from
Iran , a n y p e rs o n utilizing d ie g e n e ra l
lic e n se sh a ll s e n d a s e c o n d n o tific atio n
to th e O ffice o f F o reig n A s s e ts C o ntro l
th a t h e h a s d e p a r te d Iran .
6. § 535.563 is a d d e d a s follow s:

Federal Register / Vol. 45, No. 78 / Monday, April 21.1980 / Rules and Regulations
} 53S.563 Family remittances to Iran.
(a) R e m itta n c e s to a n y clo se re la tiv e
o f th e re m itte r o r o f th e re m itte r’s
sp o u se , w h o is a c itiz e n o f Ira n a n d w ho
is a re s id e n t o f a n d w ith in Iran , a re
a u th o riz e d p ro v id e d th e y d o n o t inv olv e
a n y d e b it to a b lo c k e d a c c o u n t a n d are
fo r th e su p p o rt o f th e p a y e e a n d
m e m b e rs o f h is h o u seh o ld .
(b) T h e te rm “clo se re la tiv e ” u s e d
w ith re s p e c t to a n y p e rs o n m e a n s
sp o u se , child, g ra n d ch ild , p a re n t,
g ra n d p a re n t, u n cle, au n t, b ro th e r, sister,
n e p h e w , n eice, o r sp o u se , w id o w ,
w id o w e r o f a n y o f th e foregoing.
(c) T h e te rm “m e m b e r o f a h o u s e h o ld ”
u s e d w ith re s p e c t to a n y p e rs o n m e a n s a
clo se re la tiv e sh a rin g a co m m on
d w ellin g w ith su c h p erso n .

Authority: Sec. 201-207, 91 Stat. 1626, 50
U.S.C. 1701-1706; E.O. No. 12170,44 FR 65729,
E.O. No. 12205,45 FR 24099; E.O. No. 12211,
45 FR 26685.
Dated: A pril 17,1980.

Stanley L. Sommerfield,

Director.
Approved:

Richard J. Davis,

Assistant Secretary.
[FR Doc. 80-12384 Filed 4-18-80:10:18 am]

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