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OFAC May 8, 2018 Iran Sanctions FAQ: Other

5.1. Will the United States resume efforts to reduce Iran’s crude oil sales?

Yes. The sanctions lifted under section 1245(d) of the NDAA will be re-imposed following a 180-day wind-down period, and the United States will again pursue efforts to reduce Iran’s sales of crude oil under the NDAA during and following that period. For more information about NDAA sanctions, see Topic NDAA (Section 1245 of the National Defense Authorization Act for Fiscal Year 2012)

5.2. How and when will significant reduction exceptions be determined?

The State Department will evaluate and make determinations with respect to significant reduction exceptions provided for in section 1245(d)(4)(D) of the NDAA at the end of the 180-day wind-down period. Countries seeking such exceptions are advised to reduce their volume of crude oil purchases from Iran during this wind-down period. Consistent with past practice, the Secretary of State, in consultation with the Secretary of the Treasury, the Secretary of Energy, and the Director of National Intelligence, would make such determinations following a process of rigorous due diligence. For the initial set of such determinations, the State Department intends to consider relevant evidence in assessing each country’s efforts to reduce the volume of crude oil imported from Iran during the 180-day wind-down period, including the quantity and percentage of the reduction in purchases of Iranian crude oil, the termination of contracts for future delivery of Iranian crude oil, and other actions that demonstrate a commitment to decrease substantially such purchases. The State Department expects to engage in consultations with countries currently purchasing Iranian crude oil during the 180-day wind-down period.

Categories: Frequently Asked Questions (FAQ) Guidance Iranian Sanctions Joint Comprehensive Plan of Action (JCPOA) Updates OFAC Updates


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