Lifting the restriction of trade on the basis of dollars of foreign companies with Iran by the United States

Lifting the restriction of trade on the basis of dollars of foreign companies with Iran by the United States

US’s lifting of dollar-based trade restrictions on foreign companies with Iran: The US Treasury Department has issued a new directive: ‌ Dollar-based transactions with Iran, which were previously banned, will be free until they enter the US financial system. .

According to the Associated Press, the US Treasury Department last night issued a new trade directive, according to which some banned dollar-based transactions by foreign banking institutions with Iran, until they enter the US financial system. , Are free.

Under the new guidelines, foreign companies and institutions will have more freedom to trade with Iran. The new decision, made by the Treasury Department’s Office of Foreign Assets Control, also lifts foreign trade restrictions on Iranian companies that are controlled by individuals still on the US sanctions list.

The Treasury Department’s new directive states that foreign transactions with entities that are wholly or partly owned by individuals on the sanctions list do not necessarily include US sanctions.

According to Reuters, despite the implementation of the Comprehensive Joint Action Plan (CJAP) in January 2016, which led to the lifting of sanctions on Iran in exchange for restrictions on its nuclear program, Washington still maintains sanctions against certain Iranian individuals and companies.

The new US Treasury Department decision follows an escalation of Iranian complaints that sanctions have not been lifted following the implementation of the UN Security Council and that the United States has not complied with its obligations, and that foreign companies continue to worry about engaging with Iran. The Treasury Department stressed that it has fulfilled all its obligations and blamed Iran’s behavior for the reluctance of foreign companies and institutions to do business with Tehran, but also assured foreign companies that trade with Iran no longer includes US sanctions.