On 6 August the president issued Companu new Iran-related executive order the New Iran EOwhich re-imposes relevant provisions of four previous executive orders EOs and revokes two EOs, but the same restrictions set forth in those revoked EOs have been incorporated into the New Iran EO so there has been no easing of sanctions as a result of such revocation.

After completion of the day wind-down period, as of 7 Augustthe New Iran EO makes sanctionable. The wind-down activities permitted in relation to activities previously undertaken pursuant to authorizations in GL H will expire on 5 November Certain sanctions set out in the New Iran Xing Company Page apply only to activities that take place on or after 5 November Sanctione sanctions will be re-imposed after the expiration of the day winddown period announced on 8 May and will target activities related to.

FAQ reminds non-U. As a result, if a particular country does not receive such exemptions, purchases of Iranian crude oil will create exposure under secondary U. Additionally, FAQ indicates that Naffiran New Iran EO provides authority to block the property and interests in property of persons determined, on or after 5 Novemberto have materially assisted, sponsored, or provided financial, material, or technological support for, goods or Sabctions to, or in support of any Iranian persons on the Specially Designated Nationals and Blocked Persons List SDN List or any other persons included on the SDN List whose property and interests in property are blocked pursuant to EO or subsection 1 a of the New Iran EO in both cases excluding Iranian depository institutions whose property and interests in property are blocked solely pursuant to EO Lastly, in a revision to the FAQs released on May 8,OFAC affirmed the GL permitting the exportation or reexportation of agricultural commodities, food, medicine, and medical products Naftiran Intertrade Company Sanctions Iran unless they involve certain sanctioned persons or conduct see FAQ 2.

These actions were previewed in OFAC's 8 May public guidance, in which OFAC Naftirna the re-imposition of Companj and secondary sanctions, which took effect on 7 August and will take effect on 5 November Naftiran Intertrade Company Sanctions If you would like to learn how Lexology can drive your content marketing strategy forward, please email enquiries lexology. The selection feature during registration helps in increasing the relevance of the content of the emails.

I would recommend it to other attorneys. Back Forward. Share Facebook Twitter Linked In. Follow Please login to follow content. Register Nsftiran for your free, tailored, daily legal newsfeed service. Iran sanctions: Snapback becomes reality Hogan Lovells. IranUSA August 10 General impact on 5 Sanxtions Certain sanctions set out in the New Iran EO apply only to activities that take place on or after 5 November Hogan Lovells - Anthony V.

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Naftiran Intertrade Company Iran Watch

Subsidiaries include Naftiran Intertrade Company Srl, Petroiran Development Company (PEDCO) Ltd, and Petropars Ltd. Managing director is reportedly Mohsen Paknejad; other company officials include Mohammad Hassan Ghodsi (General Manager of Overseas Participation and Investments), Mohammad Ali Ahmadi, and Ahmad Azmoodeh. Sanctions…

Recent OFAC Actions

Home » Resource Center » Financial Sanctions » OFAC ... The following entities have been identified as being owned or controlled by the Government of Iran: NAFTIRAN INTERTRADE CO. (NICO) SARL (a.k.a. NICO), 6, Avenue de la Tour-Haldimand, Pully, VD, Switzerland 1009, Switzerland [IRAN] NAFTIRAN INTERTRADE COMPANY LTD (a.k.a. NAFT IRAN ...…

Naftiran Intertrade - Wikipedia

Naftiran Intertrade Company limited (NICO) is a Swiss-based subsidiary of the National Iranian Oil Company (NIOC). NICO is a general contractor for the oil and gas industry. NIOC buys the vast majority of Iran's gasoline imports. NICO is a key player in Iran's energy sector. NICO also handles trading & swaps operations on behalf of NIOC.Headquarters: Pully, Switzerland…

Naftiran Intertrade Company OFAC SDN Sanctions Removal ...

Today’s identifications include four front companies for the Naftiran Intertrade Company (NICO) or the National Iranian Oil Company (NIOC) — Petro Suisse Intertrade Company SA; Hong Kong Intertrade Company; Noor Energy (Malaysia) Ltd.; and Petro Energy Intertrade Company. NICO intended to use Petro Energy Intertrade to evade western sanctions.…

Treasury Announces New Sanctions Against Iran

Today Treasury is identifying Seifollah Jashnsaz, Chairman of NICO and director of Hong Kong Intertrade Company and Petro Suisse Intertrade Company SA as well as five individuals holding other leadership positions in Iran’s energy sector who have been involved in Iranian attempts to evade international sanctions. These individuals work for the National Iranian Oil Company (NIOC), NICO, and ...…