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Australia – Iran sanctions changes

By 1 Min Read

  The Department of Foreign Affairs and Trade (DFAT) has announced that the Australian Government is implementing changes to Australia’s sanctions on Iran in line with our international obligations under UN Security Council resolutions. The Australian Government will apply the changes to UN sanctions on Iran as required by UN Security Council Resolution 2231, although others will remain in place. The Australian Government has decided to suspend certain autonomous sanctions on Iran, while others will remain…

US – State takes sanctions lifting actions pursuant to the JCPOA

By 2 Mins Read

  On January 25, 2016, the Department of State published in the Federal Register a notice [Public Notice: 9422] of the actions taken by the Secretary of State to comply with the Presidential Memorandum entitled “Preparing for the Implementation of the Joint Comprehensive Plan of Action of July 14, 2015” issued on October 18, 2015 and to give effect to the United States commitment under Section 4.8.1 of Annex II and Section 17.3 of Annex V…

US – OFAC amends Iranian Transactions and Sanctions Regulations

By 2 Mins Read

  On January 21, 2016, the Office of Foreign Assets Control (OFAC) published in the Federal Register a final rule amending the Iranian Transactions and Sanctions Regulations (ITSR) to implement certain United States Government (USG) commitments under the Joint Comprehensive Plan of Action (JCPOA) reached on July 14, 2015 between the P5+1 (China, France, Germany, Russia, the United Kingdom, and the United States), the European Union (EU), and Iran. In particular, OFAC is adding to the…

US – President revises or revokes Executive Orders regarding Iran

By 4 Mins Read

  On January 16, 2016, President Obama issued Executive Order — Revocation of Executive Orders 13574, 13590, 13622, and 13645 with Respect to Iran, Amendment of Executive Order 13628 with Respect to Iran, and Provision of Implementation Authorities for Aspects of Certain Statutory Sanctions. The Executive Order (the “order”) revokes Executive Orders 13574, 13590, 13622, and 13645 with respect to Iran and amending Executive Order 13628 with respect to Iran in order to give effect to the…

UK – Sanctions relief paves the way for developing UK trade relationship with Iran

By 2 Mins Read

  On 16 January 2016 UK Trade & Investment (UKTI), Department for Business, Innovation & Skills (BIS), UK Export Finance (UKEF), Export Control Organisation (ECO) and The Rt Hon Lord Maude of Horsham announced that Iran has received extensive economic and financial sanctions relief as a result of meeting its obligations under the nuclear deal agreed on 14 July 2015, meaning the country is now able to trade more freely.  The announcement said: On 16 January…

UK – BIS issues Notice to Exporters on lifting of nuclear-related sanctions against Iran

By 2 Mins Read

  On 18 January 2016, the UK’s Department for Business, Innovation & Skills published a Notice to UK exporters, Notice 2016/05, on the lifting of the EU nuclear-related sanctions against Iran: This Notice provides a helpful summary of the range of items that are no longer prohibited from supply to Iran, but are subject to UK export licensing requirements as of Implementation Day. This includes: Nuclear-related goods and technology as specified on the Nuclear Suppliers…

Switzerland – Swiss lift Iranian sanctions on the occasion of Implementation Day

By 2 Mins Read

  On 17 January 2016 the Federal Council announced that Swiss sanctions against Iran will be lifted at the same time as those of the UN and the EU. To make that possible, the Federal Council conducted a total revision of the Ordinance on Measures regarding the Islamic Republic of Iran. The new ordinance came into force at 12 am on 17 January 2016. On 16 January 2016, the International Atomic Energy Agency IAEA confirmed that…

US – JCPOA Implementation

By 3 Mins Read

  On January 16, 2016, the Office of Foreign Assets Control (OFAC) issued the following statement: On July 14, 2015, the P5+1 (China, France, Germany, Russia, the United Kingdom, and the United States), the European Union, and Iran reached a Joint Comprehensive Plan of Action (JCPOA) to ensure that Iran’s nuclear program will be exclusively peaceful.  October 18, 2015 marked Adoption Day of the JCPOA, the date on which the JCPOA came into effect and…

EU and US Sanctions relief for Iran under the Joint Comprehensive Plan of Action goes into effect

By 1 Min Read

  On Saturday, January 16, 2016, the International Atomic Energy Agency (“IAEA”) certified that Iran had fulfilled its nuclear-related commitments under the Joint Comprehensive Plan of Action (“JCPOA”) in order for the JCPOA’s “Implementation Day” to take effect. Accordingly, EU and US sanctions relief for Iran that was outlined in the JCPOA has simultaneously gone into effect. The US Secretary of State has confirmed the IAEA’s certification and the US Treasury Department’s Office of Foreign Assets Control…

US – OFAC seeks comments on effectiveness of licensing procedures for exports of agricultural commodities and medical supplies to Sudan and Iran

By 1 Min Read

On December 7, 2015, the Office of Foreign Assets Control (OFAC) published in the Federal Register a notice requesting comments on the effectiveness of OFAC’s licensing procedures for the exportation of agricultural commodities, medicine, and medical devices to Sudan and Iran. Pursuant to section 906(c) of the Trade Sanctions Reform and Export Enhancement Act of 2000 (Title IX of Pub. L. 106–387, 22 U.S.C. 7201 et seq.), OFAC is required to submit a biennial report…