# 31 CFR § 561.205: Metals-related sanctions on certain foreign financial institutions > Federal · Regulations · In force URL: https://www.frixlaw.com/law-library/statutes/ecfr-31-561.205 ## Section - **Citation:** 31 CFR § 561.205 - **Heading:** Metals-related sanctions on certain foreign financial institutions - **Jurisdiction:** Federal - **Kind:** Regulations - **Status:** In force - **Text as of:** September 22, 2026 - **Source:** Publisher's official text - **Location:** Title 31—Money and Finance: Treasury > Subtitle B—Regulations Relating to Money and Finance > CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY > PART 561—IRANIAN FINANCIAL SANCTIONS REGULATIONS > Subpart B—Prohibitions ## Text (a) Imposition of sanctions. Subject to the exemptions set forth in paragraph (d) of this section, upon a determination by the Secretary of the Treasury, in consultation with the Secretary of State, that a foreign financial institution has, on or after May 8, 2019, knowingly engaged in one or more of the activities described in paragraph (b) of this section, the Secretary of the Treasury may: (1) Prohibit U.S. financial institutions from opening a correspondent account or a payable-through account in the United States for the foreign financial institution with respect to which the determination has been made; and either (2)(i) Prohibit U.S. financial institutions from maintaining a correspondent account or a payable-through account in the United States for the foreign financial institution with respect to which the determination has been made; or (ii) Impose one or more strict conditions on the maintaining of a correspondent account or payable-through account in the United States for the foreign financial institution with respect to which the determination has been made. Note 1 to paragraph (a): The name of any foreign financial institution with respect to which a determination has been made pursuant to this paragraph (a), along with the relevant sanctions to be imposed (prohibition(s) and/or strict condition(s)), will be added to the List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions (CAPTA List), which is maintained on the Office of Foreign Assets Control's website (https://ofac.treasury.gov), and published in the Federal Register. Note 2 to paragraph (a): See § 561.203(b) for examples of strict conditions that might be imposed, pursuant to paragraph (a)(2)(ii) of this section, on the maintaining of a correspondent account or payable-through account for a foreign financial institution with respect to which the Secretary of the Treasury's determination has been made. (b) Sanctionable activity. A foreign financial institution has engaged in an activity described in this paragraph if it knowingly conducted or facilitated, on or after May 8, 2019, any significant financial transaction: (1) For the sale, supply, or transfer to Iran of significant goods or services used in connection with the iron, steel, aluminum, or copper sectors of Iran; (2) For the purchase, acquisition, sale, transport, or marketing of iron, iron products, aluminum, aluminum products, steel, steel products, copper, or copper products from Iran; or (3) For or on behalf of any person whose property and interests in property are blocked pursuant to Executive Order 13871. (c) Prohibitions. (1) A U.S. financial institution shall not open a correspondent account or payable-through account in the United States for a foreign financial institution for which the opening of such an account is prohibited pursuant to paragraph (a)(1) of this section. (2) A U.S. financial institution shall not maintain a correspondent account or payable-through account in the United States for a foreign financial institution for which the maintaining of such an account is prohibited pursuant to paragraph (a)(2)(i) of this section. (3) A U.S. financial institution shall not maintain a correspondent account or payable-through account in the United States for a foreign financial institution in a manner that is inconsistent with any strict condition imposed and in effect pursuant to paragraph (a)(2)(ii) of this section. (4) The prohibitions in paragraphs (c)(1) through (c)(3) of this section apply except to the extent provided by regulations, orders, directives, or licenses that may be issued pursuant to this part, and notwithstanding any contract entered into or any license or permit granted prior to the effective date. (d) Exempt activity. Nothing in this section shall apply to transactions for the conduct of the official business of the Federal Government or the United Nations (including its specialized agencies, programmes, funds, and related organizations) by employees, grantees, or contractors thereof. [84 FR 38547, Aug. 7, 2019, as amended at 91 FR 46840, July 27, 2026] ## Nearby sections - [31 CFR § 561.101 § 561.101 Relation of this part to other laws and regulations.](https://www.frixlaw.com/law-library/statutes/ecfr-31-561.101.md) - [31 CFR § 561.201 § 561.201 CISADA-based sanctions on certain foreign financial institutions.](https://www.frixlaw.com/law-library/statutes/ecfr-31-561.201.md) - [31 CFR § 561.202 § 561.202 Prohibitions on persons owned or controlled by U.S. financial institutions.](https://www.frixlaw.com/law-library/statutes/ecfr-31-561.202.md) - [31 CFR § 561.203 § 561.203 NDAA-based sanctions on certain foreign financial institutions.](https://www.frixlaw.com/law-library/statutes/ecfr-31-561.203.md) - [31 CFR § 561.204 § 561.204 Additional petroleum-related sanctions on certain foreign financial institutions.](https://www.frixlaw.com/law-library/statutes/ecfr-31-561.204.md) - [31 CFR § 561.205 § 561.205 Metals-related sanctions on certain foreign financial institutions.](https://www.frixlaw.com/law-library/statutes/ecfr-31-561.205.md) - [31 CFR § 561.220 § 561.220 Evasions; attempts; causing violations; conspiracies.](https://www.frixlaw.com/law-library/statutes/ecfr-31-561.220.md) - [31 CFR § 561.301 § 561.301 Effective date.](https://www.frixlaw.com/law-library/statutes/ecfr-31-561.301.md) - [31 CFR § 561.302 § 561.302 UNSC Resolution 1737.](https://www.frixlaw.com/law-library/statutes/ecfr-31-561.302.md) - [31 CFR § 561.303 § 561.303 UNSC Resolution 1747.](https://www.frixlaw.com/law-library/statutes/ecfr-31-561.303.md) - [31 CFR § 561.304 § 561.304 UNSC Resolution 1803.](https://www.frixlaw.com/law-library/statutes/ecfr-31-561.304.md) - [31 CFR § 561.305 § 561.305 UNSC Resolution 1929.](https://www.frixlaw.com/law-library/statutes/ecfr-31-561.305.md) - [31 CFR § 561.306 § 561.306 Correspondent account.](https://www.frixlaw.com/law-library/statutes/ecfr-31-561.306.md) - [31 CFR § 561.307 § 561.307 Payable-through account.](https://www.frixlaw.com/law-library/statutes/ecfr-31-561.307.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-31-561.205. Check the current official text before relying on it. Not legal advice.