On August 16, 2010, the U.S.Treasury Department’s Office of Foreign Assets Control (OFAC) issued the Iranian Financial Sanctions Regulations (IFSR) to implement the Comprehensive Iran Sanctions Accountability, and Divestment Act (CISADA), enacted on July 1, 2010. CISADA restricts the ability of U.S. financial institutions to do business with certain non-U.S. financial institutions with ties to Iran. The
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New regulations target non-U.S. financial institutions with ties to Iran
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