Can US companies trade with Iran?

The only exceptions to these restrictions are those specifically authorized by the Office of Foreign Assets Control (OFAC) or exempted by statute.

The ITR, or Iran Threat Reduction Act, imposes stringent restrictions on any direct or indirect transactions involving Iran or the Iranian government for U.S. individuals or entities with ties to the United States.

However, it's important to note that the ITR does not contain blocking provisions, which typically freeze assets or prohibit transactions with designated individuals or entities.

This distinction is crucial as it means that individuals or entities who violate the ITR may face penalties, but their assets are not automatically frozen or blocked.

These restrictions are designed to curb financial support to Iran and its nuclear program, as well as to limit its ability to engage in terrorist activities.