U.S. further eases Iran sanctions, issues new guidance for businessesOctober 8, 2016 - 10:29 AMT PanARMENIAN.Net - The Obama administration is further easing sanctions on Iran, making it easier for foreign firms to do business with the country following last year's nuclear deal, the Associated Press reports. Shortly before 6 p.m. Friday, October 7, at the start of the Columbus Day holiday weekend in the United States, the Treasury Department published new guidance for businesses that said some previously prohibited dollar transactions with Iran by offshore banking institutions are allowed as long as they do not enter the U.S. financial system. The clarifications from Treasury's Office of Foreign Assets Control also remove a blanket ban on foreign transactions with Iranian firms that may be controlled by a person who remains subject to U.S. sanctions. Despite the nuclear agreement, which gave sanctions relief to Iran in return for it curtailing its nuclear program, the U.S. maintains sanctions on Iran and certain Iranian companies and people. They are known as "specially designated nationals" or SDNs, for a variety of reasons, including its ballistic missile program, human rights record and support for groups the U.S. deems to be terrorist organizations. The new Treasury language says foreign transactions with non-sanctioned entities that are nonetheless "minority owned" or "controlled in whole or in part by an Iranian or Iran-related person on the SDN list" are "not necessarily sanctionable" under U.S. regulations. Friday's steps by the Treasury come amid growing complaints from Iran that it is not getting the sanctions relief it deserves under the nuclear deal because remaining U.S. sanctions have scared foreign companies from doing business in or with the country. The U.S. insists it has met its obligations and blamed Iranian behavior for the reluctance of foreign companies do to business in Iran. At the same time, it has sought to reassure foreign companies that certain transactions with Iran will no longer be subject to U.S. sanctions. Related links: Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | About 32,000 rally in Yerevan to deman Pashinyan’s resignation About 31,700 people attended an opposition rally on Thursday, May 9 in Yerevan demanding the resignation of Prime Minister Nikol Pashinyan. Armenian, Azerbaijani Foreign Minister to meet in Almaty Armenian Foreign Minister Ararat Mirzoyan and his Azerbaijani counterpart Jeyhun Bayramov will meet in Almaty. Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. Ucom's fixed network launched in Artashat To mark this occasion, the company has introduced a special offer exclusively for Artashat residents. |