[Code of Federal Regulations]

[Title 31, Volume 3]

[Revised as of July 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR560.209]



[Page 294]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY

 

PART 560_IRANIAN TRANSACTIONS REGULATIONS--Table of Contents

 

                         Subpart B_Prohibitions

 

Sec.  560.209  Prohibited transactions with respect to the development 

of Iranian petroleum resources.



    Except as otherwise authorized, and notwithstanding any contract 

entered into or any license or permit granted prior to March 16, 1995, 

the following are prohibited:

    (a) The entry into or performance by a United States person, or the 

approval by a United States person of the entry into or performance by 

an entity owned or controlled by a United States person, of:

    (1) A contract that includes overall supervision and management 

responsibility for the development of petroleum resources located in 

Iran, or

    (2) A guaranty of another person's performance under such contract; 

or

    (b) The entry into or performance by a United States person, or the 

approval by a United States person of the entry into or performance by 

an entity owned or controlled by a United States person, of

    (1) A contract for the financing of the development of petroleum 

resources located in Iran, or

    (2) A guaranty of another person's performance under such a 

contract.