Tag Archives | sanctions

Trump Remarks “Unlikely to Impact Oil Market”

Iranian Minister of Petroleum Bijan Zangeneh said he believed it was unlikely that American President Donald Trump’s recent assertions on Iran’s nuclear program would impact the oil market. Reacting to the US president’s recent remarks on Iran’s nuclear deal and the Joint Comprehensive Plan of Action (JCPOA), Mr. Zangeneh said: “I see it unlikely that […]

No Change in IMF Policy on Iran

By John Lee. The Managing Director of the International Monterey Fund (IMF) has said the IMF sees no reason to change its policy on granting loans to Iran, despite US pressures and bans. Christine Lagarde (pictured) told a news conference on Sunday: “You know, we operate with 189 members, and we only provide support and […]

European Powers Continue to Support Nuke Deal

Joint statement from Prime Minister Theresa May, Chancellor Angela Merkel and President Emmanuel Macron following President Trump’s statement on the US’ Iran Strategy. We, the Leaders of France, Germany and the United Kingdom take note of President Trump’s decision not to recertify Iran’s compliance with the Joint Comprehensive Plan of Action to Congress and are […]

Video: Trump’s Iran Speech raises Int’l Concern

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. Trump’s decision on the Iran nuclear deal is raising international concerns. Many argue the US cannot unilaterally amend a security council resolution. Iran has also sent a formal letter of protest to the […]

Trump Speech Sparks Outrage in Iran

From Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. In Iran, both government officials and regular citizens have reacted with anger to the Oct. 13 speech made by US President Donald Trump on his new Iran strategy. Though Trump attempted to distinguish between the Iranian […]

OFAC Sanctions Four Iran-Related Companies

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on Friday designated three Iran-based entities pursuant to E.O. 13382 for their activities related to two key elements of Iran’s military, and one China-based entity for proliferation activities related to a key supporter of Iran’s military. Shahid Alamolhoda Industries (SAI) was designated for […]

US Issues Sanctions against IRGC

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on Friday designated Iran’s Islamic Revolutionary Guard Corps (IRGC) pursuant to the global terrorism Executive Order (E.O.) 13224 and consistent with the Countering America’s Adversaries Through Sanctions Act. OFAC designated the IRGC today for its activities in support of the IRGC-Qods Force (IRGC-QF), […]

Trump Threatens to Pull Out of Iran Nuclear Deal

US President Donald Trump has threatened to terminate the Iran nuclear deal — the Joint Comprehensive Plan of Action (JCPOA) — if the US Congress and American allies don’t change the agreement. While not immediately pulling the US out of the deal, he said his administration was ready to negotiate on toughen the obligations on […]

President Trump’s New Strategy on Iran

“It is time for the entire world to join us in demanding that Iran’s government end its pursuit of death and destruction.” – President Donald J. Trump President Donald J. Trump, in consultation with his national security team, has approved a new strategy for Iran. It is the culmination of nine months of deliberation with […]

Renault Will Not Leave Iran in Face of More US Sanctions

Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance, said the French carmaker would not “leave Iran” even if Washington re-imposed new sanctions against Tehran. “Obviously if it becomes impossible to deal with Iran we will put a plan together for the suspension of our business there, but that’s not at all to say that […]

“Crushing Response” if US declares IRGC a Terror Group

Iranian Foreign Ministry Spokesman Bahram Qassemi warned that if Washington decides to declare the Islamic Revolution Guards Corps (IRGC) a terrorist organization, Tehran would make a “firm and crushing” response. Speaking to reporters at his weekly press conference in Tehran on Monday, Qassemi hailed recent remarks made by IRGC Commander Major General Mohammad Ali Jafari, […]

Boeing First Loser If Trump Leaves JCPOA: Analyst

If US President Donald Trump scraps the 2015 nuclear deal between Tehran and world powers, the first loser may be US aircraft maker Boeing, an analyst said. “If Boeing isn’t able to deliver the airplanes to Iran, it probably would have some impact on the stock,” said Cowen aerospace analyst Cai von Rumohr, CNBC reported. […]

Iranian Startups Thrive Despite Sanctions

Keeping the competition out: Iran startups thrive despite sanctions Low on cash but high on hope, Iran’s technology entrepreneurs are learning to live with revived hostility in the United States and growing suspicion – or worse – from hardliners at home. Their startups and e-commerce apps are flourishing, driven by government infrastructure support and young […]

US “Unable to Stop Irans Oil Exports”

If the US reimposes sanctions on Iran’s oil sector without the support of Europe, China and Russia, it will see grudging and uneven compliance by international energy companies and will not be able to stop crude flows that returned to the market in 2015, according to sanctions expert Elizabeth Rosenberg, Platts reported. “Grudging compliance does […]

US Ban on Aircraft Sales to Iran Breach of JCPOA

Ali Akbar Velayati, an international adviser to the Leader of the Islamic Revolution, described a recent decision by the US to block sales of commercial aircraft to Iran as a clear violation of the 2015 nuclear deal between Tehran and world powers. “The US move to ban the sale of aircraft to Iran is definitely […]

Prison for CEO who Conspired to Export Specialty Metals to Iran

Erdal Kuyumcu, the chief executive officer of Global Metallurgy, LLC, based in Woodside, New York, has been sentenced to 57 months in prison following his June 14, 2016 guilty plea to conspiracy to violate the International Emergency Economic Powers Act by exporting specialty metals from the United States to Iran. The sentencing proceeding was held […]

Ex-Minister Charged with Conspiring to Evade Sanctions

By John Lee. A former economy minister and other high-profile Turkish figures have been charged with conspiracy to evade US sanctions on Iran. The indictment charges Mehmet Zafer Caglayan, along with the former head of Turkey’s state-owned Halkbank and with some of his deputies. According to a report from The Washington Post, the investigation had […]

Due Diligence in Iran “Can Trigger Sanctions Violations”

The recent settlement agreed between the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and IPSA International Services of Phoenix, Arizona, highlights the risk that companies face when engaging third-party consultants to perform due diligence on counterparties in Iran. So says a paper from Washington-based legal and lobbying firm Akin Gump Strauss Hauer […]

OFAC agrees settlement with IPSA International Services

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced a $259,200 settlement with IPSA International Services, Inc. (IPSA) of Phoenix, Arizona. IPSA agreed to settle its potential civil liability for 72 apparent violations of the Iranian Transactions and Sanctions Regulations, 31 C.F.R. part 560 (ITSR). The apparent violations involve, on […]