New US measures to affect people sending money to family in Iran
Iran has been heavily sanctioned by Washington for decades but a general license carve-out has allowed for noncommercial, personal remittances to Iran
WASHINGTON, United States (MNTV) – Washington’s new measures to put economic pressure on Iran will impact people in the US who send money to family members who live in Iran, reports CNN.
The US Treasury has suspended a longstanding mechanism that has allowed for personal remittances to and from Iran, according to a document published late Monday.
Iran has been heavily sanctioned by Washington for decades but a general license carve-out has allowed for noncommercial, personal remittances to Iran via a specific procedure involving third-country brokers.
With that general license now suspended, people wishing to make such transaction would need to apply for a specific license from the Office of Foreign Assets Control, according to the Treasury notice.
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