State Readies to Cut Sanctions on Aircraft Sales to Iran

The State Department is poised to cut sanctions for U.S. persons aiming to export commercial passenger aircraft, as well as spare parts and components to Iran as part of the rollout of the Joint Comprehensive Plan of Action, State said (here). The State notice also spelled out a range of areas where the U.S. is relaxing sanctions for non-U.S. persons. The relief is contingent on State confirmation that Iran has implemented the required changes to its nuclear regime. State will keep in place restrictions on all individuals and entities listed on the Office of Foreign Assets Control’s Specially Designated Nationals list.