Article
OFAC Suspends General License J-1 And Grounds Iran's Aviation Sector
The U.S. Treasury's Office of Foreign Assets Control has launched "Operation Economic Outcast," imposing sweeping sanctions on Iran's aviation sector that suspend critical authorizations allowing foreign airlines to operate flights to Iran. These measures designate 27 Iranian airlines, revoke general licenses for temporary sojourn flights and overflight payments, and expose foreign financial institutions to secondary sanctions risks for facilitating transactions with Iran's aviation industry.
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