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.
Thursday, May 29, 2014
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