U.S. Iran related sanctions

Nuclear Deal Still Alive: Joint Commission meets to review Iran Nuclear Deal

On 25 April 2017, the Joint Commission (JC) established by the Iran Nuclear Deal, met in Vienna to review the implementation of the Nuclear Deal. Under the Nuclear Deal, the JC is responsible for overseeing the implementation of the JCPOA. The meeting, 5th meeting of the JC discussed amongst other things: cooperation in the field of civil nuclear safety, the modernization program of Arak, and sanctions relief.

President Trump Certifies Tehran’s Compliance with Nuclear Deal, but starts Review of Sanctions Relief

On 18 April 2017, U.S. Secretary of State Rex Tillerson certified to Congress that Iran is in compliance with the recently concluded Nuclear Deal – Joint Comprehensive Plan of Action (JCPOA). However, he also announced that President Trump would start an inter-agency to review on the appropriateness of U.S. Iran sanctions relief.

U.S. Treasury OFAC Updates Iranian Transactions & Sanctions Regulations

On 22 December 2016, U.S. Treasury/ OFAC published its updates regarding the Iranian Transactions and Sanctions Regulations (31 C.F.R. 560 ITSR). OFAC has decided to expand the scope of medical devices and agricultural commodities authorized for (re)export to Iran pursuant to the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA), as amended. This amendment also includes, amongst others, new or expanded authorizations related to the definition of Iranian-origin goods, training, replacement parts, software and services for the operation, maintenance, and repair/recall of medical devices.

OFAC Updates Iran Sanctions FAQ’s & Introduces General License J-1

On 15 December 2016, the U.S. Department of the Treasury‚Äôs Office of Foreign Assets Control updated its FAQ’s regarding the uplifting of sanctions under the JCPOA. The revision of the FAQ’s aim to clarify the U.S. intentions in regard to the triggering of JCPOA snap-back provisions. At the same time OFAC also introduced General License (GL) J-1 to allow the re-export of civilian aircraft to Iran (Authorizing the Re-exportation of Certain Civil Aircraft to Iran on Temporary Sojourn and Related Transactions).

The New York State Department of Financial Services Fines Italian Intesa Sanpaolo S.p.A. Bank $ 235 Million Anti-money laundering & Sanctions Violations

The New York Department of Financial Services (DFS) has published its decision to fine Italian financial giant Intesa Sanpaolo $ 235 Million for repeated anti-money laundering and sanctions violations. The misconduct included processing numerous suspicious transactions involving shell companies through the New York branch and deliberately concealing information from Bank Regulators.

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British PM Theresa May warns President-Elect Trump: Iran Nuclear Deal is Vital

Iranian President Hassan Rouhani met with British Prime Minister Theresa May for the first time_21-09-2016 _71st session of the United Nations General Assembly in New York_http://www.presstv.ir/Detail/2016/09/21/485646/rouhani-may-new-york On 07 December 2016, in a speech to the…