Financial Sanctions: Iran JCPoA

Wednesday, 9 May 2018

This news release is issued to raise awareness of the United States decision to withdraw from the Joint Comprehensive Plan of Action, otherwise known as the Iran nuclear deal. The President confirmed that the United States will begin the process of re-imposing all US sanctions previously waived under the JCPoA.

In a joint statement, the leaders of the UK, France and Germany have emphasised their continued commitment to the JCPoA.

EU and UN nuclear sanctions continue to be suspended, as detailed in the JCPoA. However, other sanctions measures concerning Iran remain in force.

The re-imposition of US sanctions may have implications for Manx businesses dealing with Iran and businesses are advised to consult guidance on the US Office of Foreign Assets Control (OFAC) web site, and where necessary seek legal advice.

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