Iran
Articles
COVID-19, Humanitarian Aid, and Sanctions Compliance
May 18, 2020
By: Natasha Bright, Content Writer, ACSS
There has long been debate over the heavy-handed use of economic sanctions and whether the ends truly justify the means. In the midst of a global pandemic, however, that question has become truly salient as countries like Iran and Venezuela have increased need for humanitarian aid. Organizations like the United Nations have come out in favor of easing sanctions, while others have vehemently opposed any relief, particularly regarding Iran. (more…)
The First Successful INSTEX Transaction Sends Medical Goods To Iran
April 10, 2020
By: Anna Sayre, Director of Content, ACSS
On March 31, 2020, France, Germany, and the U.K. confirmed concluding their first INSTEX transaction between the E.U. and Iran, by successfully exporting medical goods to the Middle Eastern country. Though the types of goods allowed under the trade mechanism remain limited, this transaction marks a significant step in allowing E.U member states to continue trade with Iran despite the re-imposition of U.S. sanctions. (more…)
The Blocking Statute – Deciphering its Provisions, How to Handle the EU/US Conflict, and Actions to Date
March 31, 2020
By: Jack Walsh, Content Writer, ACSS
A 2018 annex to the E.U. Blocking Statutehas created a formidable compliance dilemma for European companies that wish to cease business operations in Iran. Enacted to mitigate the effect of reinstated U.S. sanctions on Iran, the amended statute penalizes any E.U. companies that acquiesce to U.S. demands, placing companies in a seemingly untenable position. The challenge for compliance officers will be to navigate these contradictory demands in a world where two of the biggest players in the sanctions arena do not agree. (more…)
The EU Blocking Statute: US Perspectives and Possible Outcomes for Compliance
March 25, 2020
By: Glenda Juliano*, CAMS, CSS
The U.S. withdrawal from the JCPOA and the return of sanctions has had a substantial impact on European companies that have increased their trade with Iran since 2015. Today, European businesses operating in Iran in violation of U.S. sanctions are at risk of being banned from the U.S. market.
EU and US Lock Horns While Putting Pressure on Iran
March 17, 2020
By: Natasha Bright, Content Writer, ACSS
Both the European Union and the United States consider Iran to be a threat to the region and the world. One of the tactics that both jurisdictions take to limit Iran’s power is to isolate the country from the global economy. In 2015, Iran entered into the Joint Comprehensive Plan of Action (JCPOA), a nuclear accord whereby Iran promised to curb movement toward the development of a nuclear weapon in exchange for the easing of sanctions.
Sanctioned Nations Investigate Launching Cryptocurrency to Evade Sanctions
Last month, there were news reports that claimed that North Korea was developing its own cryptocurrency. Like many things related to the secretive nation, there are not many details available. However, if true, that would make the country the latest to dabble in the creation of a sovereign coin that could potentially be used to evade sanctions. Venezuela, Iran, and Russia have also explored this option to varying degrees. Although, as yet, not successfully.
(more…)
Affiliates
