THE US DEPARTMENT OF TREASURY HAS ISSUED AN INSTRUCTION ANNOUNCING THAT IT HAS EXEMPTED THE EXCHANGES NECESSARY FOR IRAN’S FIGHT AGAINST THE CORONAVIRUS FROM SANCTIONS LAWS.

 

Karimi & Associates Law Firm presents according to the U.S. Department of Treasury:

According to a document published on the website of The US Department of Treasury, certain activities related to “Covid-19”, which were under sanctions according to the “Iranian Transactions and Sanctions Regulations “, will be allowed until July 17, 2022.

This document stipulates that the following transactions are not prohibited until the mentioned date:

(A) The following measures, which are prohibited under the Iranian Sanctions Regulations, are permitted until July 17, 2022:

1. All transactions and activities related to export, re-export, sale, direct or indirect supply of goods or technologies used in the prevention, diagnosis, or treatment of Covid-19 (including goods and technologies used in Covid-19 research or clinical studies) with Iran or the Government of Iran or with third parties who purchase these goods for the specific purpose of reselling to Iran or the Government of Iran.
2. All transactions and activities related to the importation of goods into the United States, or dealings in or related to, goods that previously were exported or reexported to Iran or the Government of Iran under this general license and that are broken, defective, or non-operational, or are connected to product recalls, adverse events, or other safety concerns, or for routine maintenance or the permanent return of such items to the U.S. or a third country.
3. All exchanges and activities related to the export, re-export, sale, or supply of services to Iran or the Government of Iran, directly or indirectly, or the import of services from Iran to the U.S. in any case for the prevention, diagnosis, or treatment of Covid-19 (whether research or clinical studies related to Covid-19).

1. B) All transactions and activities referred to in paragraph A relating to the Central Bank or the National Iranian Oil Company (or any company in which the National Iranian Oil Company directly or indirectly owns more than 50% of its shares).

1. C) All transactions related to the transfer of funds or commercial financial exchanges, which are the usual and necessary measures to complete the exchanges and activities permitted in paragraphs A and B of this document.

President Biden had previously instructed the State Department, the Treasury Department, and the Department of Health, as well as the United States Agency for International Development (USAID), to review US unilateral and multilateral sanctions and assess whether they would prevent the fight against Covid-19.