State Clarifies Sanctions Relief for Iranian Petrochemical, Aircraft, Precious Metal Trade
The State Department relaxed some Iranian sanctions in line with the Joint Plan of Action, a pact brokered between the U.S., several allies and Iran, and clarified some guidelines for the sanctions relief (here). The JPOA is temporary, and if all sides do not come together to seal a long-term deal in the coming months, the relief will expire on July 1. As part of the new Dec. 29 guidelines, State is still sanctioning non-U.S. persons transactions for Iranian petrochemical exports if those transactions involve the following companies:
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- Bandar Imam Petrochemical
- Bou Ali Sina Petrochemical
- Ghaed Bassir Petrochemical Products
- Iran Petrochemical Commercial
- Jam Petrochemical
- Marjan Petrochemical
- Mobin Petrochemical
- National Petrochemical
- Nouri Petrochemical
- Pars Petrochemical
- Sadaf Petrochemical Assaluyeh Co.
- Shahid Tondgooyan Petrochemical
- Shazand Petrochemical
- Tabriz Petrochemical
State also banned aircraft part sales to Iran Air, as well as precious metal trade with the Iranian government.
(Federal Register 12/30/14)