JD Supra Iran

Publisher

Law Firm

Latest documents

• U.S. “Maximum Pressure” Campaign Expands Isolation Of Iran’s Financial Sector

  On Thursday, October 8, 2020, U.S. Secretary of the Treasury Steven Mnuchin identified the Iranian financial sector as subject to the sectoral sanctions of Executive Order (“E.O.”) 13902, escalating the formidable Trump Administration sanctions campaign against Iran. In accordance with this announcement, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) strengthened its sanctions against 18 major Iranian banks that are now identified as subject to secondary sanctions on the agency’s List of Specially Designated Nationals and Blocked Persons (“SDN List”)...

• United States Attempts UN Sanctions Snapback on Iran

  Summary - After the United Nations Security Council (“UNSC”) declined to extend a conventional arms embargo on Iran, the United States sought to unilaterally trigger a UN sanctions “snapback” provision and issued a new Executive Order to restrict arms trade with Iran by non-U.S. persons. Neither the snapback of UN sanctions, if effective, nor the new EO should substantially change financial institutions’ compliance obligations. Please see full Publication below for more information.

• EU renews Iran human rights sanctions for a year

  The Council of the European Union has extended its human rights sanctions against Iran until 13 April 2021. ???????

• U.S. government ends uncertainty surrounding the use of the Central Bank of Iran (CBI) in humanitarian trade with Iran and opens U.S.-Swiss Humanitarian Channel

  On 27 February 2020, the Office of Foreign Assets Controls (OFAC) issued General License (GL) 8 authorizing certain humanitarian trade transactions involving the Central Bank of Iran (CBI) that are otherwise prohibited under the Global Terrorism Sanctions Regulations (GTSR) or the Iranian Transactions and Sanctions Regulations (ITSR). Please see full Publication below for more information.

• The United States Government issues additional Iran sanctions and a new Executive Order targeting the construction, mining, manufacturing, and textiles sectors of the Iranian economy

  On 10 January 2020, in response to missile attacks by the Iranian military targeting two U.S. bases in Iraq, the United States Department of the Treasury, Office of Foreign Assets Control (OFAC) designated a number of senior Iranian military leaders, Iranian metals companies, as well as third-country entities and a vessel on the List of Specially Designated Nationals and Blocked Persons (SDN List). While the Iranian metals sector has been a target of U.S. sanctions for some time, these sanctions are the first to be issued under the May 2019 Executive Order 13871, which targets the Iranian iron, steel, aluminum, and copper sectors. Please see full Publication below for more information.

• States and Municipalities on High Alert for Iranian Originated Cyber-Attacks

  The Department of Homeland Security (DHS) is warning critical infrastructure operators to be on high alert for Iranian backed cyber-attacks because of the vulnerability of state and municipal computer systems, they are at high risk for attack from Iranian-based hackers.

• Health Information Sharing and Analysis Center Warns Health Systems to Be Wary of Iranian Cyber-Attacks

  Following the escalation of tensions between the United States and Iran in the past week, the Health Information Sharing and Analysis Center (H-ISAC) is warning hospitals and health systems that Iran could attack health organizations, which are considered critical infrastructure, and that they make sure their systems are being updated with patches.

• Department of Homeland Security Warns of Cyber-attacks by Iran

  The Department of Homeland Security (DHS) issued a grave warning to U.S. businesses and critical infrastructure operators on January 6, 2020 alerting the public that Iran poses a cyber terrorism threat to the United States following the death of Iranian Quds Force commander Gen. Qassem Soleimani.

• New York DFS Issues Risk Alert Concerning Possible Iran Cyber-Attacks

  In view of Iran’s vows to retaliate against the United States for the death of Quassem Soleimani, the NYDFS has issued an industry letter  to all regulated entities regarding the need for heightened cybersecurity precautions.

• Protecting your IP rights in Iran

  Iran is the second largest economy in the Middle East, despite years of international sanctions, and the market of more than 80 million people is highly consumer oriented. Demand for local and foreign products is consequently very high and the temptation to produce similar or counterfeit products (from foreign or local competitors) is very strong.

Featured documents

• Temporary Iran Sanctions Relief

  Relief is very limited and alleviates threat of sanctions regarding transactions by non-U.S. or foreign persons. On January 30, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) published guidance in the Federal Register on how the U.S. government would proceed to ...

• Sanctions against Iran: keep calm – there's no change yet

  On 14 July 2015, Iran and a group of countries comprising the USA, the UK, France, Russia, China and Germany agreed on a Joint Comprehensive Plan of Action (JCPoA) on Iran’s nuclear programme. Completion of the JCPoA should lead to the lifting of various sanctions currently in place against Iran...

• Iran sanctions: New developments

  On February 5, 2016, the Government of Canada announced a repeal of its most restrictive economic sanctions against Iran. The move followed the announcement by the International Atomic Energy Agency on January 16, 2016, that Iran complied with measures required under the Joint Comprehensive Plan of ...

• U.S. stays the course on re-imposing Iran sanctions

  In furtherance of President Trump’s 8 May 2018 announcement that the United States would withdraw from the Iran nuclear deal—the Joint Comprehensive Plan of Action (JCPOA)—on 27 June 2018, the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) amended the Iranian Transactions and ...

• Iran Nuclear Talks: Extension of Joint Plan of Action

  On Friday, July 18, 2014, U.S. Secretary of State John Kerry issued a statement that the Joint Plan of Action (JPOA) negotiated between the P5+1 nations1 and Iran would be extended until November 24, 2014. As we reported previously, the JPOA was an agreement under which the United States and others ...

• The Changes to Iran Sanctions and Compliance Challenges

  Putting aside the politics surrounding the Iran Nuclear Deal, the exchange of prisoners and other hot button political issues surrounding Implementation Day and the change in US-Iran relations, the new Iran sanctions create a new set of challenges for trade compliance officers....

• Iran Sanctions Eased, But Restrictions Remain

  The United States recently lifted certain sanctions against the Islamic Republic of Iran, but the general prohibition on exporting to Iran remains in place. Specifically, on January 16, 2016 (commonly known as “Implementation Day”) the United States lifted certain limited sanctions against Iran...

• Iran sanctions: Snapback becomes reality

  The United States has begun re-imposing nuclear-related sanctions with respect to Iran in connection with the expiration of the 90-day wind-down period announced alongside the United States' 8 May 2018 withdrawal from the Iran nuclear deal. Please see full Publication below for more information....

• Iran's Upstream Oil and Gas Sector: An Update on Sanctions, Nuclear Talks and the New Petroleum Contract

  Although the Islamic Republic of Iran has the world's fourth largest proven oil reserves and second largest natural gas reserves, UN, U.S. and EU sanctions relating to its nuclear program have significantly affected Iran's energy sector. Negotiations between the P5+1 countries (China, France,...

• Six Crucial Points About Iran Sanctions Liberalization

  Crucial Points - - The U.S. government has, by and large, left in place its embargo generally forbidding U.S. companies, citizens and residents, and others in the United States to engage in Iran-related activity. - European Union authorities, on the other hand, have rescinded most EU...