Oil & Gas Iran Sanctions

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Red Notice Newsletter - October 2015

Welcome to the October 2015 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. This month on the anticorruption front, a Japanese multinational conglomerate settles U.S. Securities and Exchange...more

Adoption Day in Iran Sanctions Deal: US and EU Give Clarification, But No Lifting of Sanctions Yet

The United States and European Union took preparatory steps on 18 October 2015 to begin fulfilling their commitments to suspend certain sanctions against Iran pursuant to the Joint Comprehensive Plan of Action (“JCPOA”)...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

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

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

The Nuclear Deal With Iran: The Lifting of Sanctions and Implications for Business

On July 14, 2015, after two years of sometimes intense negotiations, the United States, the United Kingdom, France, Germany, Russia, and China (known as the “P5+1” countries), along with the European Union, signed a Joint...more

Potential Upstream Investment Under the New Iranian Petroleum Contract

The signing of the JCPOA regarding Iran nuclear sanctions may usher in a new era of major international investment in the Iranian oil and gas industry....more

Impact of Iran Accord on International Business - Briefing the "C" Suite on the Joint Comprehensive Plan of Action with Iran

On July 14, 2015, the United States, France, China, Russia, the United Kingdom, Germany and the European Union (EU) entered into the Joint Comprehensive Plan of Action (JCPOA) with Iran after years of difficult negotiations....more

Historical Agreement to Lift Sanctions on Iran Over the Next Decade

Iran, US, UK, France, Germany, Russia and China have concluded, after prolonged negotiations led by the EU’s foreign policy chief Federica Mogherini, to an agreement that will lift sanctions on Iran and place strict limits on...more

Schlumberger Faces More Than $232.7 Million in Penalties and Pleads Guilty to Criminal Charges for Violations of U.S. Sanctions

On March 25, 2015, Schlumberger Oilfield Holdings, Ltd. (“SOHL”), a wholly owned subsidiary of Schlumberger Ltd., the world’s largest oil-field services company (collectively “Schlumberger”), agreed to plead guilty to...more

Energy Newsletter - February 2015

In This Issue: - LEX PETROLEA: Sources and Successes of International Petroleum Law - The Top 10 Questions Facing the LNG Industry in 2015 - Drilling Contracts – Avoiding Misunderstanding - Iran's Upstream...more

U.S. Government Provides Guidance Regarding Certain Temporary Aviation-Related Iran Sanctions Relief

As previously advised, on January 20, 2014, Iran and the group of nations known as the P5+1 (United States, U.K., France, Russia, China and Germany) implemented a Joint Plan of Action (JPOA) whereby Iran agreed to accept...more

The Joint Plan of Action: A Recap of the Easing Of Sanctions Against Iran By The United States And European Union

On 24 November 2013, an agreement was reached between the E3+3 (also known as the P5+1, and which includes the United States, United Kingdom, Russia, China, France and Germany) and Iran....more

U.S. and EU Extend Temporary Iran Sanctions Relief a Second Time

The temporary and limited changes to U.S. and European Union (“EU”) sanctions policy for Iran, as agreed under the interim nuclear deal reached by Iran and the P5 + 1 countries, have been extended until June 30, 2015. Most...more

End Of The Iran Sanctions? Not So Fast…

After the Joint Plan of Action (JPOA) was signed last November by Iran and the P5+1 nations, many U.S. companies asked whether they could reestablish business relationships with Iran. That was a fair question, but...more

A Crude Bargain: Temporary Relaxation of U.S. Sanctions for the Iranian Petroleum Industry

On January 30, 2014, the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") published its Guidance Relating to the Provision of Certain Temporary Sanctions Relief in Order to Implement the Joint Plan...more

Energy Newsletter - March 2014

In This Issue: - REGULATORY: Oil & Gas Regulatory, Government Relations: Congress Probes Crude Rail Safety Developments; Voluntary Industry-Regulator Agreement Addresses Safety Concerns - Environmental: A "Diesel...more

Iranian Sanctions – Joint Action Plan is Implemented in EU

Background - Implementation of the Joint Action Plan agreed between the E3/EU+3 in October 2013 by suspending certain sanctions against Iran in relation to nuclear proliferation began on 20 January 2014. This...more

EU partially suspends Iran sanctions under nuclear deal

I. Introduction - On 20 January 2014, the Council of the European Union (EU) agreed to temporarily suspend certain sanctions against Iran, namely those relating to (re)insurance and transport services for Iranian crude...more

Singapore: Persian Gulf Money, Energy, and Non-Energy Export Risks

In September 2013, the GCC-Singapore Free Trade Agreement came into force, and it has some wondering whether this will mean an influx of oil and gas trade from the Persian Gulf. The agreement is well-timed, as U.S. Secretary...more

Why China’s Growing Appetite For Iraqi Oil Is Good For America, And The World

For the mass media chorus, postwar Iraq has come to resemble an emblem of American failure. Spurts of violence seem to be embedded into the fabric of everyday life, plaguing the country with disturbing regularity. ...more

Red Notice: A Monthly Update on Global Investigations and Prosecutions - June 2013

Welcome to the June 2013 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. In this month’s edition, a French energy giant agrees to one of the most expensive Foreign Corrupt Practices Act (FCPA)...more

Energy Newsletter - February 2013

In This Issue: - DISPUTE RESOLUTION: - International Arbitration: EU Member State Defends Measures Adverse to Energy Sector Investments on the basis of EU law - REGULATORY: - Competition Law/Russia: Russia...more

Wire Stripping: What is Old is New Again

Recently, Standard Chartered Bank (SCB) was in the news again for stripping original wire details so that payments would go undetected by the U.S. Department of Treasury's Office of Foreign Assets Control (OFAC)....more

The New Year Brings New Sanctions Against Iran

As 2013 begins, the United States has reiterated its commitment to countering the threat posed by Iran by passing new legislation, issuing new regulations and guidance, and bringing into effect new requirements to increase...more

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