International Group FAQs - US sanctions Iran

The attached FAQs from the International Group provide a comprehensive summary of the relevant legislation and key provisions that impact on trade activities and financial transactions with Iran, including restrictions on the movement of goods to and from Iran and the provision of services that could affect shipowners and their insurers if shipowners perform sanctionable voyages to or from Iran.

The attached FAQs summarize the more relevant statutory enactments and E.O.s as to foreign persons and provide useful comments on some of the more practical implications of the sanctions regime. The FAQs should not, however, be considered a comprehensive analysis of the sanctions implicated by any potential transaction. 

It is recommended that anyone of whatever nationality considering carrying out any business with an Iranian connection seek legal advice to avoid inadvertent violations and/or unexpected delays and disruptions to their trade.  With that background, the following FAQs may be of assistance.

The FAQs highlight also the penalties, civil and criminal, that could be imposed on persons and entities for a breach of US legislation.

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