Monday, the Joint Plan of Action agreed to with Iran began for a period of six months, while a more comprehensive (hopefully, final) agreement about the disposition of Iran's nuclear activites is negotiated. What this means, in terms of temporary changes to the sanctions on Iran (from the EU press release):
Today's decision has lifted the prohibition on the provision of insurance and transport in relation to Iranian crude oil sales to its current customers.
In addition, the prohibition on the import, purchase or transport of Iranian petrochemical products and related services has been suspended.
To enable the transport of Iranian crude oil and petrochemical products, the prohibition on the provision of vessels is also suspended.
The ban on trade in gold and precious metals with the Iranian government, its public bodies and the Central Bank of Iran has also been suspended. As foreseen by the Joint Plan of Action, the thresholds for authorising financial transfers to and from Iran have been increased tenfold in order to ease legitimate trade with Iran.
And, for good measure, the EU High Representative Catherine Ashton has issued a statement on the commencement of the Joint Plan of Action:
This is an important first step, but more work will be needed to fully address the internationalcommunity's concerns regarding the exclusively peaceful nature of the Iranian nuclearprogramme. We aim to start negotiations about a comprehensive solution with Iran inFebruary.
OFAC, in addition to a small notice on its Recent Actions page, has issued a general guidance document, a licensing policy specifically regarding activities relating to the safety of Iran's civil aviation, and an FAQ.
Links:
EU High Representative Statement
OFAC Joint Plan of Action Guidance
OFAC Licensing Policy regarding Activities related to the safety of Iran's Civil Aviation Industry
OFAC Joint Plan of Action Sanctions Relief FAQ
Posted with BlogsyFiled under: EU Updates, Iranian Sanctions, Licenses, OFAC Updates, Sanctions News, Sanctions Programs, Sanctions Regulations
