US Treasury lifts sanctions imposed on Iran’s Central Bank, oil trade

Home »  News »  US Treasury lifts sanctions imposed on Iran’s Central Bank, oil trade

The US Department of the Treasury released a set of documents, which define the sanctions lifted from Iran, including the restrictions imposed on Central Bank of Iran and National Iranian Oil Company (NIOC).

The move was made because of the Joint Comprehensive Plan of Action (JCPOA) implementation which has officially started on January 16 after the International Atomic Energy Agency chief Yukiya Amano announced in a report that the agency verified Iran’s complete commitments to its obligations upon JCPOA, Sputnik reported.

‘In particular, beginning on Implementation Day, the following activities by non-U.S. persons are no longer sanctionable: Financial and banking transactions with individuals and entities set out in Attachment 3 to Annex II of the JCPOA, including: the Central Bank of Iran (CBI)and other specified Iranian financial institutions; the National Iranian Oil Company (NIOC), the Naftiran Intertrade Company (NICO), the National Iranian Tanker Company (NITC), and other specified individuals and entities,’ the DoT said in one of the documents on Saturday.

The DoT’s measures also allow Iran to sell its oil to the third countries as well as to import civilian airliners.

According to a high-ranking representative of the administration of US President Barack Obama, the sanctions have been lifted from more than 400 individuals and entities, but some 200 people related to Iran will be on the sanction list.

On July 14, Iran and the P5+1 group of countries comprising the United States, Russia, China, France and the United Kingdom plus Germany, signed the JCPOA. The agreement guarantees the peaceful nature of Iran’s nuclear program in exchange for sanctions relief.

Leave a Reply

Your email address will not be published. Required fields are marked *