Washington imposes restrictions on personal financial transfers to Iran - Sarmad

New U.S. measures, part of an effort to increase economic pressure on Tehran, target individuals in the United States who send money to their family members residing in Iran, according to CNN.

The U.S. Department of Treasury suspended a long-standing mechanism that had allowed non-commercial personal financial transfers to and from Iran, according to a notice issued on Monday by the Office of Foreign Assets Control (OFAC).

Iran has been subject to stringent U.S. sanctions for decades, but an exception under a general license had permitted non-commercial personal transfers through a specific mechanism involving intermediaries in third countries.

Following the suspension of this general license, individuals wishing to make such transfers must now apply for a specific license from OFAC, according to the Treasury Department’s notice.