Iran sanctions lifted

With limited exceptions, the reimposed U.S. sanctions will hit Iran as well as countries that do not stop importing Iranian oil and foreign firms that do business with blacklisted Iranian entities, including its central bank, a number of private financial institutions, and state-run port and shipping firms, as well as hundreds of individual Iranian officials. … [Read more...] about US Restores Iran Sanctions Lifted Under Obama Nuclear Deal

U.S.-origin aircraft (including 10% or greater U.S.-origin content by value): Need license: Re-exports or other transactions by non-U.S. persons involving any items with 10% or more U.S-controlled content to Iran are still subject to sanction, and require a license from OFAC. Favourable Licensing policy: Effective 16 January 2016, the U.S. government has established a favorable licensing policy regime providing case-by-case authorization to engage in transactions for the export, re-export, sale, lease, or transfer of commercial passenger aircraft and related parts and services to Iran, provided that the licensed items are used exclusively for commercial passenger aviation. Specific licenses issued pursuant to the new policy will include conditions prohibiting the transactions from involving any person on OFAC’s SDN List. According to some reports, several major players are seeking to consummate transactions with Iran, including for U.S.-origin aircraft. Those transactions … [Read more...] about US and EU Iran Sanctions Lifted: How to Proceed in Aviation Sector?

The expectation appears to have been something along the lines of a gradual reduction after November 5, coupled with increased exports from other countries to balance the loss of Iranian oil, which has already dropped from 2.7 million to 1.6 million barrels per day since the United States withdrew from the nuclear deal. In a happy coincidence for Americans, the newly-crowned top oil producer in the world is the United States. … [Read more...] about U.S. Grants Iran Sanctions Waivers to China, India, South Korea, Japan

Then what has changed? Prior to Implementation day, the Iran Threat Reduction and Syria Human Rights Act of 2012 (ITRA), as further incorporated into the ITSR, imposed liability on U.S. companies for the Iran-related business of entities they own or "control."* Collectively, the Iran sanctions legislation effectively closed the so-called “subsidiary loophole” that permitted foreign subsidiaries to engage in business with Iran, so long as their U.S. parent corporations were not involved.  … [Read more...] about IRAN SANCTIONS IMPLEMENTATION DAY: Engaging in Business in Iran through Foreign Subsidiaries?

By total coincidence, a Swedish-registered black Volvo started moving “suspiciously” outside the same house. When they tried to stop the car, it sped off. This triggered a major manhunt, during which a number of roads, bridges, and ferry routes were shut down, including connections between Denmark and Sweden. It turned out that the three occupants of the Volvo had no relation to the ASMLA case, but that the Volvo was a stolen car. They were only caught because of the ASMLA case, making them “the world’s most unlucky criminals,” according to the Copenhagen police. … [Read more...] about World View: E.U. Splits on Iran Sanctions After Assassination Attempt in Denmark