Thursday, May 29, 2014

Newshound Guru wmawhite

5-29-2014   Newshound Guru wmawhite   OFAC [Office of Foreign Assets Control] acts under Presidential national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze assets under US jurisdiction.  Now it was OFAC that published the amendment to EO 13303. Therefore, the assets of the CBI are no longer under sanctions within the USA. The importance here is that if OFAC prohibits a country, our banks are unable to do business with that country. Now, OFAC is stating that all sanctions are lifted as to the CBI.   [so the sanctions being lifted means our banks can now deal with Iraqi dinar?]  if a bank chooses to do so[it seems this was a big issue to overcome to see MR occur for this country?  Am I on the right track?]  One of the biggest for us to exchange the IQD within the USA.

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