Pompeo said eight nations will receive temporary waivers allowing them to continue to import Iranian petroleum products as they move to end such imports entirely. He said those countries, which other officials said would include U.S. allies such as Turkey, Italy, India, Japan and South Korea, had made efforts to eliminate their imports but could not complete the task by Monday. … [Read more...] about US Restores Iran Sanctions Lifted Under Obama Nuclear Deal
Iran sanctions lifted
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?
Trump’s Iran sanctions, announced in May, scheduled for Sunday EU splits on Iran sanctions after assassination attempt in Denmark Trump’s Iran sanctions, announced in May, scheduled for Sunday In May, the Trump administration withdrew America’s position in the Iran nuclear deal, the Joint Comprehensive Plan of Action (JCPOA). At that time, Trump announced that he was restoring wide-ranging sanctions on Iran’s economy. Trump gave oil buyers 180 days to wind down purchases of Iranian oil and announced that the final deadline for oil purchases would be Sunday, November 4. From May to September, Iran’s oil exports fell by about a third. … [Read more...] about World View: E.U. Splits on Iran Sanctions After Assassination Attempt in Denmark