(A) A person is considered to engage in the investment activities in Iran if either of the following is true:
(1) The person provides goods or services of $20,000,000 or more in value in the energy sector of Iran, including providing any of the following for the energy sector of Iran:
(a) Oil or liquified natural gas tankers; or
(b) Products used to construct or maintain pipelines used to transport oil or liquified natural gas.
(2) The person is a financial institution that extends $20,000,000 or more in credit to another person, for 45 days or more, if that other person:
(a) Will use the credit to provide good’s or services in the energy sector in Iran; and
(b) Is, at the time the financial institution extends credit, a person identified on the list as a person engaging in investment activities in Iran.
(B) A person’s investment contract with the state public retirement system may not be used as the basis for making a determination under this chapter that the person is engaged in investment activities in Iran.
(BC Ord. 2018-002, passed 3-5-2018)