Iran sanctions lifted

The Trump administration on Friday restored U.S. sanctions on Iran that had been lifted under the 2015 nuclear deal, but carved out exemptions for eight countries that can still import oil from the Islamic Republic without penalty. The sanctions take effect Monday and cover Iran's shipping, financial and energy sectors. They are the second batch the administration has reimposed since Trump withdrew from the landmark accord in May. The 2015 deal, one of former President Barack Obama's biggest diplomatic achievements, gave Iran billions of dollars in sanctions relief in exchange for curbs on its nuclear program, which many believed it was using to develop atomic weapons. Trump repeatedly denounced the agreement as the "worst ever" negotiated by the United States and said it gave Iran too much in return for too little. But proponents as well as the other parties to the deal — Britain, China, France, Germany, Russia and the European Union — have vehemently defended it. The … [Read more...] about US Restores Iran Sanctions Lifted Under Obama Nuclear Deal

On 16 January 2016, the United States and the EU lifted certain sanctions against Iran in compliance with the Joint Comprehensive Plan of Action (JCPOA) agreed among Iran, China, France, Germany, the Russian Federation, the United Kingdom and the United States. January 16, 2016 was the day on which the International Atomic Energy Agency (IAEA) certified that Iran had met certain milestones set forth in the JCPOA toward dismantling the military aspects of its nuclear program. On the same day, the United States and the EU announced the lifting of sanctions consistent with the announcement of Implementation Day.How does the lifting of sanctions affect the international aviation sector? The relevant changes are outlined below. 1. Overview of EU changes As of  January 16, 2016, all nuclear-related economic and financial EU sanctions against Iran have been lifted by the EU. The decision was taken by the EU following the presentation of the report by the Director-General … [Read more...] about US and EU Iran Sanctions Lifted: How to Proceed in Aviation Sector?

The United States has agreed to give eight countries waivers from the tough round of Iran sanctions that will go into effect next week. The waivers will allow those countries to continue buying Iranian oil. Recipients include close U.S. allies India, South Korea, and Japan, along with top American economic rival China.Bloomberg News reported on Friday morning that details for China’s waiver are still under negotiation. The four other countries that will be granted waivers were not identified by Bloomberg’s sources, who said Secretary of State Mike Pompeo will make a formal announcement later on Friday and all eight nations will be officially named on Monday. Turkey, which views Iran as a vital oil supplier and has enjoyed improved relations with the United States over the past few weeks, is a good guess for one of the remaining recipients. The waivers are described as “temporary” and conditioned on the eight countries steadily reducing Iranian oil imports … [Read more...] about U.S. Grants Iran Sanctions Waivers to China, India, South Korea, Japan

On January 16, 2016, various iterations of "Iran Sanctions Lifted" appeared in the headlines. Taking this quote literally, the assumption is that the doors are now open to freely engage in business with Iran. A closer look, however, indicates that the crack has only narrowly widened. In reality, the "primary sanctions" enforced under the Iranian Transactions Sanctions Regulations ("ITSR"), as well as the accompanying complex regime of sanctions against Iran that are expressed through a series of statutes and Executive Orders, remain largely intact closing the commerce doors to most "U.S. persons" conducting business in Iran. So what really happened on January 16, 2016 (“Implementation Day”)? On Implementation Day, the International Atomic Energy Agency (IAEA) verified that Iran had instituted certain nuclear related commitments under the Joint Comprehensive Plan of Action (JCPOA). In response, the U.S. lifted certain nuclear-related "secondary sanctions" … [Read more...] about IRAN SANCTIONS IMPLEMENTATION DAY: Engaging in Business in Iran through Foreign Subsidiaries?

This morning’s key headlines from GenerationalDynamics.com 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. The Trump administration has the power to enforce the sanctions because of the way that the international banking systems are interlocked. Iran can sell oil to another country, but in order to get paid, payment sooner or later has to pass through an entity that … [Read more...] about World View: E.U. Splits on Iran Sanctions After Assassination Attempt in Denmark