On 11 April 2017, the EU Council renewed the restrictive measures against Iran until 13 April 2018. Currently, the restrictive measures include a travel ban and asset freeze on 82 people and one entity, in addition to a ban on exports to Iran of equipment, which might be used for internal repression or monitoring telecommunications. … Continue Reading
House lawmakers introduced a new bill, the Korean Interdiction and Modernization of Sanctions Act (H.R. 1644), that would expand existing sanctions targeting trade with the North Korean regime. Further, two new Iran sanctions bills were introduced in the House and Senate – the Iran Ballistic Missiles and International Sanctions Enforcement Act (H.R. 1698) and the … Continue Reading
The US Department of State’s Bureau of Industry and Security (BIS) has removed from the Entity List China’s telecommunications equipment firms Zhongxing Telecommunications Equipment Corporation and ZTE Kangxun Telecommunications Ltd., known collectively as ZTE. The action follows the agency’s recently announced, record-breaking settlement for US export controls violations, according to which those entities agreed to … Continue Reading
In a notice to exporters from 22 March, the ECO announced that its Iran list has been withdrawn, owing to the substantial lifting of EU sanctions on Iran under the JCPOA nuclear deal signed in 2015. The list was designed to provide information relating to certain entities, companies and organization in Iran for exporters concerned … Continue Reading
The EU has reviewed its nuclear sanctions targeting Iran, as well as judgments of the General Court and the European Court of Justice, annulling listings on those measures and has confirmed that various entities do not appear anymore on the EU’s sanctions lists, they include Moallem Insurance Company, Petropars Operation & Management Company, Petropars Resources … Continue Reading
In response to recent ballistic missile testing activities by the Islamic Republic of Iran, the Trump administration, on 3 February 2017, issued its first economic sanctions, adding 13 individuals and 12 entities to the Office of Foreign Assets Control (OFAC) list of specially designated nationals and blocked persons. The designations were made under counter-proliferation and … Continue Reading
UPDATE: On 24 February 2017, BIS published a final rule extending until 29 March 2017 the temporary general licence for ZTE Corporation and ZTE Kangxun of China. Under this fourth extension of the ZTE General License, exports, reexports and transfers (in-country) to the entities are subject to the licencing requirements and policies of the Export … Continue Reading
The Office of Foreign Assets Control (OFAC) has adopted a final rule amending the Iranian Transactions and Sanctions Regulations, 31 C.F.R. part 560 (ITSR), to authorise additional transactions relating to medicine, medical devices and agricultural commodities. The rule expands existing general licences in the ITSR that are adopted under the Trade Sanctions Reform and Export … Continue Reading
In its annual report, the FCO recognises that the UK played an instrumental role in ensuring that the EU remained united in upholding sanctions on Russia, in promoting sanctions on ISIS and in negotiating the Joint Comprehensive Plan of Action (JCPOA) nuclear deal with Iran. According to the report “while there has been good progress … Continue Reading
Iran – Sanctions Measure Advances. Last week, the Senate passed the Iran Sanctions Extension Act (H.R. 6297) by a vote of 99-0, sending the measure to President Obama’s desk. Members of Congress and Administration officials have said they do not believe renewal of the Iran Sanctions Act (ISA) would violate terms of the nuclear agreement … Continue Reading
Likely Major Policy Developments President-Elect Trump will enter the White House facing a dramatic decline in global trade growth. A recent World Trade Organization (WTO) report notes that 2016 marks the slowest pace of trade and output growth since the 2008 financial crisis. WTO Director-General Roberto Azevêdo called slowing trade growth “a wake-up call,” … Continue Reading
The U.S. House of Representatives will reconvene on Monday, 14 November, and the U.S. Senate the following day. TPP – Administration Still Stumping. In a call on 3 November, Ambassador Froman reiterated the Obama Administration is still aiming for a lame-duck congressional vote on the TPP deal, but he did not offer any details on … Continue Reading
The Office of Financial Sanctions Implementation has removed three Iranian companies from its list of sanctions targets listed on the EU’s anti-nuclear sanctions on Iran. The following companies have had their listings annulled as a result of Judgments of the General Court of the European Union: IRISL Club, IRISL Multimodal Transport Company and Leading Maritime PTE Ltd.… Continue Reading
OFAC announced settlement agreements with two separate US companies for alleged violations of the Iranian Transactions and Sanctions Regulations. World Class Technology Corporation agreed to a settlement of US$43,200, while PanAmerican Seed Company agreed to a settlement of US$4,320,000.… Continue Reading
On 29 July 2016, the Treasury Department’s Office of Foreign Assets Control (OFAC) issued a new general license authorising temporary sojourn of certain non-US registered aircraft in Iran. The general license, General License J, applies only to re-exports by non-US persons of fixed-wing civil aircraft that are registered in a country other than the US, Iran or another E:1 country, … Continue Reading
The EU has amended Annex 1 (Nuclear Suppliers Group), which includes goods, technology and software, and Annex III (Missile Technology Control Regime) in regard to its anti-nuclear proliferation sanctions against Iran, which designate which items are subject to restrictions under the measures. The amendments include new information about items listed in Annexes I and III in order to enable better identification … Continue Reading
JASTA – Veto Imminent. Congress formally submitted the Justice Against Sponsors of Terrorism Act (JASTA; S. 2040), to President Obama last Monday. The President has until this Friday to veto the measure, as he has vowed to do. While it remains unclear whether Congress has the necessary votes – two-thirds in both chambers – to … Continue Reading
JASTA – Bill Sent to President. The House voted by voice vote last Friday to advance the Senate-passed JASTA measure to President Obama’s desk for signature into law. Congress acted on a measure that many believe is long-overdue for the victims of the 9/11 attack just ahead of Sunday’s 15th anniversary of the terrorist attack. … Continue Reading
The U.S. Congress returns to Washington on Tuesday after a six-week recess. On Monday, Senate Foreign Relations Committee (SFRC) Chairman Bob Corker (R-Tennessee) issued a statement on the perceived lack of strong U.S. leadership, setting the stage for potentially-increased Republican oversight this fall: Just as we saw our allies in Europe dissing us over the … Continue Reading
A year after the conclusion of the Joint Comprehensive Plan of Action (JCPOA) with Iran, Federica Mogherini, the EU’s High Representative for Foreign Affairs and Security Policy, issued a statement on the progress to date and the next steps for EU sanctions on Iran. The EU is set to continue to actively support the full … Continue Reading
Iran – Legislative Action on New Restrictions. On the one-year anniversary of the Joint Comprehensive Plan of Action (JCPOA) Thursday, President Obama issued a statement saying: “[T]he Iran Deal has succeeded in rolling back Iran’s nuclear program, avoiding further conflict and making us safer.” Senate Foreign Relations Committee (SFRC) Chairman Bob Corker (R-Tennessee), along with … Continue Reading
G-7 Leaders’ Declaration. The G-7 Leaders’ Declaration issued on Friday from Ise-Shima, Japan, touched on topics such as the global economy, trade, maritime security, cyberspace, anti-corruption, infrastructure, global health challenges, climate change and female empowerment. The Leaders advocated TPP member states ratify the agreement, while also addressing the global excess steel capacity issue, government subsidies … Continue Reading
On May 23, 2016, the European Parliament (EP) Committee on International Trade engaged in discussions on strategy towards the Islamic Republic of Iran in the wake of the lifting of nuclear-related sanctions against the country, and made several suggestions to the Committee on Foreign Affairs and called for their integration into its motion for a resolution. … Continue Reading
The restrictive measures impose an asset freeze and travel ban on the listed individuals and entities and also ban exports of any apparatus with the potential to be used for internal repression or telecommunication monitoring. The EU’s sanctions relating to Iranian human rights concerns did not fall under the Joint Comprehensive Plan of Action (JCPOA), and so were not part … Continue Reading