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U.S. Treasury Says New Guidelines Clarify Ongoing Sanctions Against Iran

Source: RFE/RL

Washington says its new guidance for foreign companies doing business with Iran does not ease sanctions that have remained imposed against Tehran.

The U.S. Treasury Department, Office of Foreign Assets Control (OFAC)

The U.S. Treasury Department said on October 8 that an update to its regulations that was published late on October 7 merely clarifies what is and is not allowed since last year's landmark nuclear deal gave Iran billions of dollars in sanctions relief in exchange for limits on its atomic program.

The Treasury said in a statement that the update was "intended to clarify the scope of sanctions lifting under the [nuclear deal] and the sanctions that remain."

It said the guidelines do not represent any additional sanctions relief.

The clarifications specify that some previously prohibited transactions in U.S. dollars with Iran by offshore banks are now allowed as long as they do not enter the U.S. financial system.

The U.S. still maintains sanctions on Iran and some Iranian firms and people for various reasons -- including Iran's ballistic missile program, human rights abuses, and support for groups listed by the United States as terrorist organizations.

Based on reporting by AP and Reuters

... Payvand News - 10/09/16 ... --

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