Under terms agreed to in the Joint Comprehensive Plan of Action (JCPOA) otherwise known as The Iran Nuclear Deal entered into by the Obama Administration on June 14, 2015, the Office of Foreign Assets Control announced on January 16th, 2016 that effective immediately it will adopt a favorable licensing policy for exporters seeking to export, re-export, transfer, lease or sell commercial aircraft or parts and components for commercial aircraft to Iran. While very thorough due diligence will be required to ensure that transactions are not commenced with persons listed on the Specially Designated Nationals List (SDN) or other U.S. government denied parties lists, it is indeed now possible to obtain a license from OFAC for the export of commercial aircraft parts to Iran. For more information on this new trade policy or details on OFAC export license filing procedures or assistance please contact our office at 210-757-0618
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