Below we provide a brief summary of the reimposed sanctions and the implications thereof.
The recently reimposed U.S. secondary sanctions
Transactions Covered by Secondary Sanctions
With both wind-down periods now complete, the secondary sanctions that were previously waived are now effective. These include sanctions on the purchase or acquisition of US dollars by the Government of Iran; Iran’s trade in gold or precious metals; the sale, supply, or transfer to or from Iran of graphite, raw or semi-finished metals and software for integrating industrial processes; significant transactions related to the purchase/sale of rials; and the purchase, subscription to, or facilitation of the issues of Iranian sovereign debt.
The sanctions also target the automotive sector; shipping and shipbuilding sectors; the energy sector; petroleum-related transactions; transactions by foreign financial institutions with the Central Bank of Iran and designated Iranian financial institutions; the provision of specialised financial messaging services to the Central Bank of Iran and Iranian financial institutions; and certain underwriting services, insurance and re-insurance.