During the Seminar sponsored by the Law Offices of Mike S. Manesh, representatives from the U.S. Departments of State and Treasury, as well as Attorney Mike Manesh, spoke in depth about issues concerning U.S. Trade Sanctions and the new various developments. Dr. Zohreh Mizrahi served as the moderator of the event.
Over four hundred guests attended this free seminar held at the Olympic Collection.
Members of the audience were given binders containing informative handouts regarding the issues discussed throughout the seminar. Attendees also had the opportunity to write down and hand in any questions.
The three main topics of discussion included the Iranian Transaction Regulations (I.T.R), International Emergency Economic Powers Act (IEEPA), and the Office of Foreign Assets Control (OFAC).
The U.S. Department of State representative discussed the history of I.T.R. and the U.S. Department of Treasury representative spoke about the issuance of OFAC licenses.
Mr. Manesh explained in detail the specifics of how the government recognizes illegal dealings between Iran and America and also addressed the necessary criteria for obtaining an OFAC license. Additionally, he summarized the respective laws.
Mr. Manesh also touched on the penalties relating to violations of I.T.R., which include both civil and criminal charges. The I.T.R.’s Investigations include Administrative subpoenas issued by OFAC, which usually allow only 30 days to respond.
After a brief intercession, Dr. Mizrahi read aloud the audiences’ questions and the representatives answered as many as they could for the rest of the seminar.
Questions included the following: “Is it possible to obtain a license to transfer rents from a family owned property from Iran to the U.S.?”, “Is there any specific list of medical commodities that are allowed to be exported from the U.S. to Iran?”, and “Do you have to obtain a separate license each time you want to import funds into the U.S.?”
Overall, the seminar created a greater awareness to the public, especially the Iranian-American community, about the U.S. sanctions as well as the implications of engaging in transactions prohibited by OFAC.