Iran Sanctions Iran

News & Analysis as of

Movement Towards Implementation of Iran Nuclear Agreement Brings Limited Easing of Sanctions into Focus

Recent and upcoming milestones fuel expectations of Iran opportunities in 2016. As reported in our Client Alert dated July 16, 2015, the Joint Comprehensive Plan of Action (JCPOA) provides for the eventual termination of...more

OFAC Issues Finding of Violation to a Bank for Violations of Iranian Transactions and Sanctions Regulations

On October 21, OFAC issued a Finding of Violation to a Chicago-based bank as the successor of a bank that processed six funds transfers totaling approximately $67,000. According to OFAC, the predecessor bank, between February...more

Treasury updates sanctions

Treasury has updated the sanctions lists...more

Preparing for Implementation Day - EU Approves Regulations to Relieve Irananian Sanctions

The EU introduced several new regulations1 on 18 October ('Adoption Day') to prepare to eventually terminate Iranian sanctions measures. Adoption Day marked 90 days after the endorsement of the Joint Comprehensive Plan of...more

Iran Sanctions: Treasury and White House Comment on JCPOA Adoption Day

On October 18, the Department of the Treasury released a statement on reaching the formal “Adoption Day” of the Joint Comprehensive Plan of Action (JCPOA), the plan reached between the P5+1, the European Union, and Iran...more

Joint Comprehensive Plan of Action Adoption Day

October 18, 2015, marked “Adoption Day,” the day on which the Joint Comprehensive Plan of Action (JCPOA) (the agreement reached by Iran, the United States, Britain, France, Germany, Russia and China,) went into effect. The...more

President Obama directs key US agencies to prepare for sanctions waivers under the JCPOA

On October 18, 2015, President Obama published a memorandum to the Secretaries of State, the Treasury, Commerce, and Energy instructing them to prepare to implement the US’s commitments under the Joint Comprehensive Plan of...more

Iran: Adoption Day of the Joint Comprehensive Plan of Action

On 14 July 2015, the Joint Comprehensive Plan of Action (JCPOA) was agreed between the E3/EU+3 (or the P5+1, comprising the United States, Russia, China, the United Kingdom, France and Germany), together with Iran. This was...more

US State Department Releases Contingent Waivers of Iran Extraterritorial Sanctions

On October 18, 2015, the day on which the Joint Comprehensive Plan of Action (“JCPOA”) became effective (“Adoption Day”), the U.S. Department of State (“State Department”) issued contingent waivers of certain extraterritorial...more

“Adoption Day” Marks Official Launch of P5 + 1 Nuclear Deal with Iran

The Joint Comprehensive Plan of Action (JCPOA), intended to prevent Iran from acquiring a nuclear weapon and to ensure that Iran’s nuclear program will be directed toward exclusively peaceful purposes, went into effect...more

Trade & Manufacturing - October 2015

Ending the Crude Oil Export Ban - On September 17, the House Energy and Commerce Committee passed a bill to end the 40-year-old ban on the export of domestic crude oil. The Committee vote was passed by a Republican...more

Iran Nuclear Deal Survives Congressional Review Period, But Opponents Are Not Conceding Defeat

The Joint Comprehensive Plan of Action (JCPOA) with Iran survived its first major test last month when the United States Congress failed to pass a resolution of disapproval that would have prevented U.S. implementation of the...more

Mining in Iran: Post-deal Opportunities

US$20 billion worth of investment opportunities in Iran's mining sector has piqued the interest of international mining companies. Opportunities were presented by Iran's Minister of Industry and Mines at an investment...more

Iran Sanctions Relief: Opportunities and Challenges for US and EU Financial Institutions

Although US and EU sanctions targeting Iran are not likely to be lifted before early 2016, there are a number of issues which US and EU-based financial institutions should be aware of in preparation for sanctions relief as a...more

Checking In on Sanctions Enforcement

The Department of Treasury’s Office of Foreign Asset Control continues to ramp up sanctions enforcement. Even with the likely relaxation of the Iran and Cuba sanctions, OFAC has been continuing its aggressive enforcement...more

Iran Nuclear Deal Clears Senate Obstacle, But Will “Snap-Back” Bite?

On Thursday, September 10, 2015, U.S. Senate Democrats cleared a hurdle for the proposed Iran nuclear agreement by blocking a Senate resolution that would have rejected the deal. The result, in which Senate Republicans...more

Iran Deal “Clears” Congress, But No Sanctions Relief Yet

On September 10, 2015, Senate Democrats in the U.S. Congress blocked a vote on a widely anticipated resolution to reject the Joint Comprehensive Plan of Action (“JCPOA”) regarding Iran’s nuclear program. On September 11, the...more

International Trade Alert: Iranian sanctions and a new Office of Financial Sanctions Implementation

Under the terms of the agreement, EU and US sanctions relief will be provided through the suspension and eventual termination of sanctions measures, beginning only if and when the International Atomic Energy Agency verifies...more

President Obama’s Proposed Iran Nuclear Deal Will Prevent Iran from Obtaining a Nuclear Weapon

Earlier in the summer, President Barack Obama announced his proposed Iran nuclear deal whose goal is to prevent Iran from obtaining a nuclear weapon. This deal is known as the Joint Comprehensive Plan of Action (JCPOA)....more

The Iran Sanctions Program: Is There Relief in Sight for Re/Insurers Under The Iran Nuclear Agreement?

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) administers complex and comprehensive trade and financial sanctions against the Government of Iran. The Iran sanctions prohibit virtually all...more

Iran Nuclear Agreement – Mixed Bag for U.S. Exporters

The Iran Nuclear Agreement provides certain opportunities for U.S. firms, but these are not as significant as many U.S. business executives had hoped. The following are highlights of the most important provisions of the Iran...more

Is Iran Open for Business for U.S. Exporters?

On August 7, 2015, the U.S. Government issued a revised Guidance regarding Iran and also issued a Third Amended Statement of Licensing Policy on Activities Related to the Safety of Iran’s Civil Aviation Industry. The bottom...more

Switzerland Is the First Country to Lift Some Sanctions on Iran

Certain US sanctions on Iran may be lifted mid to late 2016 or even later. On August 13, Switzerland became the first country to formally lift certain sanctions on Iran, following the announcement of the Iran nuclear...more

International Trade Alert: Business Opportunities in Iran - Are You Properly Equipped to Join the Race?

As European business gears up for a post-sanctions environment and the strengthening of relationships in an economically significant emerging market, many clients continue to face mixed messages with regards to what they can...more

Trade & Manufacturing - August 2015

Services Take Center Stage in TiSA; Goods Sector Should Applaud - With Congress preoccupied with the debate over whether to renew Trade Promotion Authority (TPA) (so-called "fast track" authority) and the merits of the...more

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