OFAC hires new staff to deal with Iran licence applications

It is reported that OFAC has hired new staff in order to expedite the processing of licence applications for businesses looking to trade with Iran.  OFAC’s acting director John Smith has said that the agency is “stretched to the limit” having received “hundreds if not thousands” of applications since the implementation of the JCPOA in January this year, each of which is said to require complex assessment.

In April, Iran’s Supreme Leader Ayatollah Ali Khamenei stated that sanctions on Iran had been lifted on paper only, due to the US having created “Iranophobia so no one does business with Iran” (see previous blog), and there is a risk that OFAC’s applications backlog compounds this situation.

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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