Corrections in the Iranian Transactions and Sanctions Regulations and Western Balkans Stabilization Regulations

The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has published in the Federal Register a final regulation as regards amendments to the Iranian Transactions and Sanctions Regulations (31 CFR Part 560) and the Western Balkans Stabilization Regulations (31 CFR Part 588).
The regulation primarily makes minor technical corrections to the existing sanction regulations such as the correction of typographical errors or the update of cross-references. It also implements a new license into the Western Balkans Stabilization Regulations that was previously omitted and that permits otherwise prohibited financial transactions in support of certain nongovernmental organizations‘ activities such as the provision of humanitarian aid or peace building activities or activities for the benefit of establishing democracy in the Western Balkan states. A list of permitted activities is included in the license.