You may have also recently read our post which shows you the actual OFAC Sanctions against Iran. You can read our recent post regarding US Economic Sanctions against Iran by clicking HERE.
Now my first inclination is to think, surely giant corporations like eBay, Paypal, and Amazon must be smart enough not to allow the sale of a sanctioned item which could potentially result in not only high fines, but even imprisonment. After seeing how Paypal doesn't even seem to follow their own policies howeve, it's easy to see how they may not follow govenment policies or sanctions as well. Now we are not saying the Iranian Rial is sanctioned or illegal to buy or sell. Despite looking over the sanctions documents it doesn't explicitly state one way or the other. Short of contacting OFAC directly to verify this I don't think we'll know. That said we have noticed Paypal does not follow their own policies.
Paypal states they do not allow lay-away programs yet for years both Paypal and eBay allowed the sale of millions of Dollars worth of Dinar options to be sold on eBay. Paypal also states they do not allow currency exchanges, check cashing businesses or money services businesses to use their services, yet they allow the sale of Dinar, Dong, Rial, and other currencies on eBay as well as off eBay on websites. If you look at the images below it shows a currency exchanger on eBay who openly states he is a registered money services business with the US Treasury and operating a currency exchange on eBay and Paypal still allows this person to sell, despite these activities being clearly outlined in their TOS.
|Paypal Allowing Money Services Business Despite Violating Paypal Terms Of Service|
|Money Services Business Operating Using Paypal Against Paypal Terms Of Service|