Sanctions from President Impacting Exports and Imports

U.S. exporters and importers need to be aware of changes in U.S. foreign policy

President Obama has increased the U.S. Sanctions on Iran in an effort to prevent Iran from funding and developing its nuclear program. What does this mean to U.S. exporters and importers?

Americans should not export to Iran unless they obtain a license from The Office of Foreign Assets Control (OFAC). Also, Iranian goods and services are not authorized to enter the United States, with very few exceptions. These trade restrictions are strictly enforced through civil and criminal penalties.

For more information about the new or existing U.S. sanctions on Iran please visit the following links:

http://www.cnn.com/2010/POLITICS/07/01/obama.iran.sanctions/index.html?hpt=T2

http://www.ustreas.gov/offices/enforcement/ofac/programs/iran/iran.shtml

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