Tag Archives: Iran Sanctions

IRAN SANCTIONS: UNITED STATES REIMPOSES SANCTIONS AND THE EU RESPONDS

In the early hours of Tuesday, 7 August 2018, and as foreshadowed by President Trump’s announcement on 8 May 2018, the United States reimposed certain secondary sanctions on Iran, being those which apply to non-U.S. persons. The imposition of these sanctions follows the conclusion of a 90-day wind-down period and, as mentioned in our previous … Continue Reading

Iran Sanctions – August Deadline

On 8 May 2018, President Trump announced that the United States would withdraw from the Joint Comprehensive Plan of Action (“JCPOA”). In conjunction with that announcement, the President issued a National Security Presidential Memorandum (“NSPM”) directing the re-imposition of certain secondary sanctions, being those that apply to non-US persons even where there is no US … Continue Reading

Sanctions on Iran – The EU Response

Following President Trump’s announcement that the United States will withdraw from the Joint Comprehensive Plan of Action (“JCPOA”) and re-impose US sanctions (including secondary sanctions) against Iran, the European Union has chosen to signal its commitment to the continuation of the JCPOA. Readers will be aware that the US has indicated it will be re-imposing … Continue Reading

Iran: Joint Comprehensive Plan of Action agreed on 14 July 2015, but no immediate sanctions relief

On 24 November 2013, the E3/EU+3 (or the P5+1, comprising the United States, Russia, China, the United Kingdom, France and Germany), together with Iran, agreed the Joint Plan of Action (“JPOA”), which relaxed some of the sanctions imposed against Iran by the EU and the United States. The JPOA was intended to provide interim sanctions … Continue Reading

Iran: Joint Comprehensive Plan of Action agreed, but no immediate sanctions relief

On 24 November 2013, the P5+1 countries (comprising the United States, Russia, China, the United Kingdom, France and Germany) together with Iran, agreed the Joint Plan of Action (JPOA), which relaxed some of the sanctions imposed against Iran by the EU and U.S. The JPOA was intended to provide interim sanctions relief, while the parties worked … Continue Reading

P5+1 and Iran Agree on Framework for Joint Comprehensive Plan of Action, Sanctions Easing Expected June 2015

On April 2, 2014, the P5+1 (the United States, Germany, France, the UK, Russia, and China) and Iran reached an agreed-upon framework outlining the roadmap for a future agreement surrounding Iran’s nuclear program that would include suspension of U.S. and EU nuclear-related sanctions imposed on Iran. For further details, please see the recent Reed Smith … Continue Reading

Iran: limited sanctions relief extended to 24 November 2014

In January 2014, both the EU and U.S. brought into force measures which temporarily suspended and relaxed (for a period of six months, to end on 20 July 2014) some of the sanctions in place against Iran. This reflected the Joint Plan of Action (JPoA) agreed between the E3+3 and Iran in November 2013. Those … Continue Reading

Sanctions Update – Iran: Easing of Sanctions by the United States and European Union

As reported in our Client Alert of December 2013, the “Joint Plan of Action” reached between the United Kingdom (“UK”), the United States (“U.S.”), Germany, France, Russia and China (collectively known as the “E3+3”) and Iran in November 2013 envisaged a two-step process in relation to relief from international trade sanctions against Iran. On 12 … Continue Reading

Sanctions Update on Iran

As reported in our client alert in December 2013, the “Joint Plan of Action” reached between the E3+3 and Iran in November 2013 envisaged a two-step process in relation to relief from international trade sanctions. On 12 January 2014, it was announced that the interim deal (of six months of initial measures) between the E3+3 … Continue Reading

President Obama Enacts New Iran Sanctions

On 2 January 2013, President Obama signed into law an act that imposes new sanctions on Iran. The new sanctions target certain entities and transactions, but largely focus on the energy, shipping and shipbuilding sectors of the Iranian economy. For further details, please see the recent post on Reed Smith’s Global Regulatory Enforcement Law Blog … Continue Reading

Iran – Sanctions Update: Council Regulation 1263/2012

Further to the 4 January 2013 post on the EU’s recent extension of its sanctions regime against Iran, a Client Alert has been published considering in detail the provisions of Council Regulation 1263/2012. The full text of the Alert is available on the Reed Smith website.… Continue Reading

EU further extends Sanctions against Iran

The Council of the European Union has recently published two Regulations which further extend its Iran sanctions regime. Council Regulation (EU) No. 1263/2012 This Regulation implements the measures which were published in Council Decision 2012/635/CFSP, and which were the focus of a Reed Smith Client Alert dated 22 October 2012. With the publication of the … Continue Reading

EU further extends Iran Sanctions Regime

The Council of the European Union has recently published two further Regulations which extend the EU’s sanctions regime against Iran. Council Implementing Regulation 1016/2012 This Regulation adds the National Iranian Oil Company Nederland (aka NIOC Netherlands Representation Office) to the asset freeze list in Annex IX of Regulation 267/2012. It came into force on 7 … Continue Reading

Iran and Syria: Recent Sanctions Update

On 16 October 2012, the EU introduced further restrictive measures against both Iran and Syria. Details of these new measures can be found in the recent Reed Smith Client Alert by Sian Fellows, David Myers, Sarah Rogers, Alexandra Allan and Alexandra Gordon.… Continue Reading

Export Control Organisation publishes new version of Iran List

The Export Control Organisation (“ECO”) has published a new version of the Iran List. This is a listing of entities and organisations in Iran, published in order to help exporters judge which exports might be of concern for End-Use Control reasons. This will be of relevance when determining whether goods require a UK export licence. Exports … Continue Reading

EU publishes further Regulation concerning Restrictive Measures against Iran

The Council of the European Union has published Council Implementing Regulation (EU) No.709/2012 (the “Regulation”) concerning restrictive measures against Iran. The Regulation provides that: (a) certain persons shall be deleted from the list set out in Annex IX to Regulation (EU) No.267/2012 (i.e. the list which sets out those persons whose funds and economic resources … Continue Reading

US President signs Executive Order Authorizing Additional Sanctions With Respect to Iran

On 31 July 2012, President Obama signed an Executive Order Authorizing Additional Sanctions With Respect to Iran. This Order: (a) authorizes the Secretary of the Treasury to impose financial sanctions on foreign financial institutions found to have knowingly conducted or facilitated certain significant financial transactions with the National Iranian Oil Company (“NIOC”) or Naftiran Intertrade … Continue Reading

United States extends Sanctions against Iran

The United States Treasury’s Office of Foreign Assets Control (OFAC) has made important shipping-related changes to its Iran sanctions regime. The National Iranian Tanker Company (“NITC”) and many related companies have been added to the list of blocked parties (the “SDN list”), together with several dozen vessels. Several banks with links to Iran and other … Continue Reading

Senate Approves Revisions to the Iran Sanctions

Just ahead of this week’s meeting in Baghdad between Tehran and other nations concerning Iran’s controversial nuclear program, the U.S. Senate passed an Iran sanctions bill by a unanimous voice vote. This bill is the Senate counterpart to the “Iran Threat Reduction Act of 2011” (H.R. 1905), which passed the House in December. The two … Continue Reading

EU amends sanctions against Iran

The Council of the European Union has published Council Implementing Regulation 350/2012, which came into force on 24 April 2012. This Regulation amends the asset freeze lists in Regulation 267/2012 by removing one individual and two companies from those lists. The asset freeze lists continue to be amended on a regular basis. It is, therefore, … Continue Reading

EU further expands Sanctions against Iran

As mentioned in a previous post, the EU has further extended its sanctions against Iran, with the publication of Council Regulation 267/2012 (the “Regulation”), which came into force on 24 March 2012. The Regulation repeals and replaces Regulation 961/2010. As such, many of its provisions simply restate measures which were already in force. However, some … Continue Reading

Iran and Syria – Sanctions Update

The latest sanctions against Iran have been much publicized and are set against a backdrop of Iranian officials threatening to escalate the situation further by blocking the Strait of Hormuz. We have today issued a client alert focussing on the key developments and also providing an update on the sanctions against Syria.… Continue Reading
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