Tag Archives | sanctions

EU Extends Sanctions on Iran for Human Rights Violations

The Council of the European Union has voted unanimously to extend its “restrictive measures” (sanctions) against Iran by one year due to human rights violations. These measures consist of: a travel ban and an asset freeze against 82 people and one entity. a ban on exports to Iran of equipment which might be used for […]

New US Sanctions on Iran: Full Details

On Friday, in a coordinated action with the U.S. Department of Justice, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated one Iranian entity and 10 Iranian individuals under Executive Order (E.O.) 13694, “Blocking the Property of Certain Persons Engaging in Significant Malicious Cyber-Enabled Activities,” as amended. The entity and individuals designated engaged in the theft of valuable intellectual property and data from hundreds of U.S. and third-country universities and a media company for private financial gain. “Iran is engaged […]

Iran’s Break with Dollar Easier said than done

By Maziar Motamedi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. A little over two weeks ago, Iran eliminated another function of the US dollar in its internal workings in a move positioned amid yearslong plans to reduce dependency on the greenback. The consequences will […]

Total to Seek Waiver If US Reimposes Sanctions on Iran

Total CEO Patrick Pouyanne said on Sunday that the French oil and gas company would seek a waiver to continue the development of an Iranian gas field should the United States decide to re-impose sanctions. Speaking in an interview with The National newspaper while on a visit to the United Arab Emirates, Pouyanne said Total’s […]

Trump extends “National Emergency” with Iran

US President Donald Trump (pictured) has renewed the United States’ national emergency with respect to Iran for one more year, beyond 15th March, 2018. In a Presidential statement dated 12th March, President Trump said: “Actions and policies of the Government of Iran, including its development of ballistic missiles, support for international terrorism, and human rights […]

Iran Moves Closer to Ditching Dollar in Trade Activities

Iran announced that purchase orders by merchants that are based on the dollar would no longer be allowed to go through import proceedings. By announcing the policy, which is in line with an official request by the Central Bank of Iran (CBI) and is specifically meant to address fluctuations in market rates of the dollar, […]

FATF Extends Suspension of Counter-Measures against Iran

The Financial Action Task Force (FATF) has decided that Iran should not be added to its blacklist. The organisation, which is charged with taking action against money laundering and combating the financing of terrorism, said “given that Iran has draft legislation currently before Parliament, the FATF decided at its meeting this week to continue the […]

US Moves Against “Illicit Iran Aircraft Network”

The U.S. Commerce Department’s Bureau of Industry and Security (BIS) has acted against Turkish national Gulnihal Yegane and three affiliated Turkish companies who are involved in illicitly procuring and supplying Iranian airlines with U.S.-origin aircraft engines and spare parts. The action, called a “temporary denial order” (TDO), suspends the export privileges of Gulnihal Yegane (“Yegane”), […]

What Trump needs to know about Iranians

By Seyed Hossein Mousavian for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Ever since the 1979 Islamic Revolution, the implicit goal of US strategy toward Tehran has with rare exception been to subvert the Iranian political system. Under President Donald Trump, regime change has been adopted […]

“No US License Needed” to Buy Sukhoi Jet

The modifications that Sukhoi has made to its Superjet-100 passenger plane would allow the Russian aircraft manufacturer to sell the plane to Iran without the need for a license from the US Treasury’s Office of Foreign Assets Control (OFAC), an Iranian official announced. Speaking to Tasnim on Monday, Secretary of Association of Iranian Airlines Maqsoud […]

Rouhani orders Armed Forces to Sell all Business Assets

By John Lee. Bloomberg quotes President Rouhani as saying that Iran’s armed forces, the largest state pension fund, and other branches of the government, must withdraw from all their commercial holdings to help save the economy. Rouhani said: “Not only the Social Security Organization but all government sectors, including banks, have to divest their business holdings, […]

Total Considers Measures to Protect Business in Iran

By John Lee. Total’s CEO Patrick Pouyanné (pictured) has said that the South Pars project was “progressing well, without delay, and [Total] continues to work, even if the situation with the American Congress is rather vague.” He added that he does not consider any future snapback of US sanctions to be automatic game-over for the […]

France to Finance Exports to Iran, Sidestepping Sanctions

France will start offering euro-denominated credits to Iranian buyers of its goods later this year, a move to bolster trade while keeping it outside the reach of US sanctions, the head of state-owned investment bank Bpifrance said. “We put a lot of preparation into this in 2017 and we keep on working, every single day, […]

Trump Extends Nuclear Deal “for Last Time”

By John Lee. The United States is to extend sanctions relief for Iran for another 120 days. In a statement, President Donald Trump said: “Despite my strong inclination, I have not yet withdrawn the United States from the Iran nuclear deal. Instead, I have outlined two possible paths forward: either fix the deal’s disastrous flaws, […]

New US Sanctions on Iran: Full Details

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 14 individuals and entities in connection with serious human rights abuses and censorship in Iran, and support to designated Iranian weapons proliferators. “The United States will not stand by while the Iranian regime continues to engage in human rights abuses and injustice.  […]

Video: Turkish banker Convicted in Iran Sanctions Case

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. A Turkish banker has been found guilty in a US court of taking part in a scheme to violate Washington’s sanctions against Iran. Mehmet Hakan Atilla and eight others were accused of moving […]

US Treasury Sanctions more Iranian Entities

The United States’ Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned five Iran-based entities subordinate to a key element of Iran’s ballistic missile program. Shahid Kharrazi Industries, Shahid Sanikhani Industries, Shahid Moghaddam Industries, Shahid Eslami Research Center, and Shahid Shustari Industries are being designated pursuant to Executive Order (E.O.) 13382 for being owned or […]

Import of Pipeline Supplies “Easier” Post-Sanctions

The Iranian Oil Pipeline & Telecommunications Company (IOPTC) says ever since implementation of the Joint Comprehensive Plan of Action (JCPOA), import of the items and equipment needed for construction of pipelines in the country has been dramatically facilitated. Abolghasem Zamani, director of items supply at IOPTC, said since JCPOA implementation back in January 2016 the […]

Cryptocurrencies could offer Iran way around Sanctions

By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Post-sanctions integration in the international financial sector has been one of the main challenges in the Iranian economy since the implementation of the Joint Comprehensive Plan of Action in January 2016. As such, one could […]

Former Central Bank boss denies meeting Zarrab

From Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran’s former Central Bank head Mahmoud Bahmani, reacting to Iranian-Turkish tycoon Reza Zarrab’s recent statements in a US court, says he never met with Zarrab. In his testimony in a New York trial, Zarrab, who was arrested in the […]