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President Donald J. Trump signed an Executive Order authorizing the imposition of sanctions on persons operating in the iron, steel, aluminum or copper sectors of the Iranian economy.
within International Law, Intellectual Property, Government and Public Sector topic(s)
with readers working within the Consumer Industries industries
President Donald J. Trump signed an Executive Order authorizing the
imposition of sanctions on persons operating in the iron, steel,
aluminum or copper sectors of the Iranian economy.
The Executive Order targets non-U.S. companies and financial
institutions (U.S. persons are already prohibited from engaging in
most Iran-related dealings), and authorizes secondary sanctions
against those who operate in the identified sectors of the Iranian
economy, or who engage in or facilitate "significant"
transactions related to those sectors. OFAC issued six FAQs in connection with the Executive Order.
Individuals and entities engaged in transactions sanctionable under
the Executive Order were given a 90-day grace period to wind down
those transactions.
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