Sanctions News 03 Feb, 2017

Iran Sanctions - New Parties Designated

In reaction to recent missile tests by Iran the US administration has announced that certain individuals and entities have been added to the US SDN lists. The press release from OFAC with details of those parties can be found here.

Members should note that this action does not affect other sanctions provisions against Iran or the operation of Club cover so long as trade is not conducted with a SDN. 

It does however underline the need for Members to undertake due diligence when considering trading to Iran, including checking that none of the parties involved in the venture are on the SDN lists.

Further information can be found on the Club's dedicated Iran sanctions webpage and Members with any further questions on the impact of this and all other sanctions matters should contact the Managers.