US TREASURY PUBLISHES NEW GUIDANCE, FAQ, & LICENSING POLICY RE: IRAN NUCLEAR DEAL

The US Treasury has published new guidance on the implementation of the Iran nuclear deal (JCPOA) and the continuation of sanctions relief agreed in November 2013 (JPOA). It has also published advice relating to frequently asked questions on the nuclear deal and a new licensing policy relating to the safety of Iran’s civil aviation industry.

The guidance covers sanctions relating to Iran’s export of petrochemical products and crude oil, its auto industry, gold and other precious metals, civil aviation, and humanitarian and certain other transactions. The FAQ covers a range of questions on the timeline and process for implementation of the JCPOA and on the status of ongoing sanctions relief under the JPOA, and the new licensing policy provides for OFAC to authorise transactions aimed at ensuring the safe operation of Iranian commercial passenger aircraft, in accordance with the JCPOA and JPOA. The licences may cover activities including but not limited to the inspection of commercial aircraft and parts, repair and servicing of commercial aircraft, and related goods or technology, including spare parts.

The Guidance

The FAQ

The Amended Licensing Policy

This entry was posted in Iran, USA by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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