![]() 13902, which provides OFAC with the authority to designate any Iranian financial institution. The Executive Order also authorises sanctions with respect to foreign financial institutions for transactions involving the designated industries. On 8 October 2020, the Secretary of Treasury determined that the financial sector of the Iranian economy would also become subject to E.O. As a result, trade with Iran in almost all industry sectors is now barred except for trade in medicine/medical items and food and agricultural commodities. More information about the action is available in the Press Release. On 10 January 2020 US issued a new Executive Order imposing sanctions against anyone (including non-US persons) who is engaged in owning, operating, trading with, or assisting sectors of the Iranian economy including construction, manufacturing, textiles, and mining or any other sector of the Iranian economy as may be determined by the US authorities. Iran urged the E3, Russia and China to fulfil their banking and oil commitments to Iran in the next 60 days, otherwise Iran may not respect the current limits on uranium enrichment and may take measures to modernise the Arak heavy water reactor and suspend implementation of other obligations under the JCPOA. On Iran has suspended its commitments under the JCPOA to sell surplus of enriched uranium in exchange for natural uranium, and to make excess heavy water available on the open market.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |