OFAC Issues Medical Device Export Guidance

Law360, New York (October 8, 2009, 1:45 PM EDT) -- The U.S. Department of the Treasury’s Office of Foreign Assets Control has issued guidance on how medical device exporters can win clearance to ship replacement parts to Iran and Sudan, laying out a rigorous process for exporting the items.

In guidance issued Wednesday on exporting or re-exporting replacements parts pursuant to the Trade Sanctions Reform and Export Enhancement Act of 2000, OFAC said parts could be replaced, but only on a one-for-one basis.

OFAC also said the export or re-export of a replacement part would be...
To view the full article, register now.