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The Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a new frequently asked question with regard to humanitarian assistance pursuant to the Coronavirus Disease 2019 (COVID-19) outbreak in Iran: Nongovernmental organizations (NGOs) are authorized under General License E to export or re-export services to or related to Iran in support of certain not-for-profit activities designed, to directly benefit the Iranian people Persons interested in providing humanitarian assistance […]

IR Global is a global group of over 700 members from around the world and operates across Legal, Accountancy, Financial and Transaction Services. The group has representatives in over 150 jurisdictions and offers the world’s largest vetted network of leading firms. The vetting process ensures all firms are of the highest quality and also have a shared ethos of ethical networking and client service. This subsequently offers a group which

SOUTH KOREA GAINS U.S. LICENSE APPROVAL FOR HUMANITARIAN EXPORTS TO IRAN: OFFICIAL SEOUL, April 10 — South Korea has won U.S. approval for the resumption of humanitarian exports to Iran under a special license program, with shipments likely to begin next month, a foreign ministry official said Friday. On Monday, Seoul gained the General License No. 8 from the U.S. government — a mechanism to authorize certain humanitarian transactions with

IRAN HAD WON A LEGAL “VICTORY” OVER $1.6 BILLION OF ITS ASSETS THAT HAD LONG BEEN FROZEN ON A US REQUEST IN LUXEMBOURG. Iran’s President Hassan Rouhani said Sunday the country had won a legal “victory” over $1.6 billion of its assets that had long been frozen on a US request in Luxembourg. Tehran and Washington have long been arch enemies and tensions have risen sharply since President Donald Trump in

THE FOREIGN MINISTER OF GERMANY SAID THAT THE EU-IRAN TRADING MECHANISM INSTEX, DESIGNED TO ALLOW EUROPEANS TO BYPASS US SANCTIONS AND CONTINUE TRADE WITH .TEHRAN, IS UNDERWAY SOON  Iran Press/Europe: New transactions using the European Union’s financial settlement mechanism INSTEX (Instrument in Support of Trade Exchanges) will take place soon. This was announced on Tuesday at a press conference by the Foreign Minister of Germany, Heiko Maas. “INSTEX is still in

CRIMINALS TAKING ADVANTAGE OF CORONAVIRUS ANXIETY TO DEFRAUD VICTIMS ONLINE LYON, France – INTERPOL is encouraging the public to exercise caution when buying medical supplies online during the current health crisis, with criminals capitalizing on the situation to run a range of financial scams. With surgical masks and other medical supplies in high demand yet difficult to find in retail stores as a result of the COVID-19 pandemic, fake shops,

South Korea was set to hold a briefing session Friday for local firms about resuming exports to Iran, a foreign ministry official said, after receiving US approval for humanitarian trade with the Middle East country. The briefing, to be co-hosted by the Korea Chamber of Commerce and Industry (KCCI) and Korea Trade-Investment Promotion Agency (KOTRA), comes after Seoul obtained a US special license designed to authorize aid-related transactions with Tehran

IRAN – EU TRADE INCREASED 9% IN FIRST TWO MONTHS OF 2020   Trade between Iran and EU member states during January-February stood at 787.66 million Euro to register a 9.17 percent increase compared with the similar period of 2019, latest data provided by Eurostat, the European Statistical Office, show. Although the UK remains part of the EU customs union and single market during the transition period after withdrawing from

Iran’s parliament has passed a bill allowing the government to slash four zeros from the rial, Iranian state media reported on Monday, after a sharp fall in the value of the currency as a result of crippling U.S. sanctions. Iran’s national currency will be changed from the rial to the Toman, which is equal to 10,000 rials, under the bill. “The bill to remove four zeros from the national currency

EU UNDECIDED ON US THREAT AGAINST NUCLEAR ACCORD   JCPOA’s European parties have not taken a position on the US strategy to push for the extension of a UN arms embargo on Iran so far while Russia and China have already expressed their opposition The European Union foreign policy chief, Josep Borrell, said the bloc still needs to consider the United States’ demand of extending Iran’s soon-to-expire arms ban and