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U.S. Sanctions Agency Beefs Up Staff to Help Implement Iran Deal

Reuters

16 Jun 2016

Serving as the Director of the U.S. Treasury’s Office of Foreign Assets Control (OFAC), Morrison & Foerster partner John E. Smith stated to Reuters that since the nuclear deal with Iran, OFAC has received “hundreds if not into the thousands by this point” of applications from businesses seeking licenses to do trade in Iran. Each of those licenses must be assessed by OFAC staff in accordance with complex and overlapping regulations. 

Read the full article “U.S. sanctions agency beefs up staff to help implement Iran deal.”

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