Issuance of Iran-related Executive Order; Publication of New Iran-related Frequently Asked Questions; Amendments to Existing Iran-related Frequently Asked Questions
8/6/2018Today, in connection with the President’s issuance of a new Iran-related Executive order “Reimposing Certain Sanctions with Respect to Iran” (New Iran E.O.), the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing Frequently Asked Questions (FAQs) relating to the New Iran E.O. OFAC is also amending existing FAQsrelating to the Iran Freedom and Counter-Proliferation Act of 2012 and, in light of the revocation of certain prior E.O.s, archiving FAQs relating to E.O. 13622, Section 4 of E.O. 13628, and E.O. 13645.
In addition, today OFAC published a revised statement and updated existing FAQs relating to the Administration’s implementation of the President’s May 8, 2018 decision to cease the United States’ participation in the Joint Comprehensive Plan of Action (JCPOA) and to reimpose all sanctions lifted or waived in connection with the JCPOA. Specifically, OFAC updated FAQ 1.4 and inserted new FAQs 2.3-2.7. Today marks the last day of the 90-day wind-down of certain sanctions relief specified in the JCPOA and as set out in the FAQs.
This is a lot to digest, so Mr. Watchlist will post all the pieces in multiple posts…