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New Executive Order on US sanctions against Iran issued

The President of the United States of America, Donald Trump, has signed a new Executive Order entitled “Imposing Sanctions with Respect to the Iron, Steel, Aluminum, and Copper Sectors of Iran”. As a result of this Executive Order, which entered into force on 8 May 2019, the Department of the Treasury’s Office of Foreign Asset Control (OFAC) may determine entities and individuals who are involved in the iron, steel, aluminum, and copper sectors or Iran and whose assets are blocked. OFAC references the new Executive Order, and has issued a new FAQ section on its meaning and scope. In case entities are sanctioned on the legal grounds of the new Executive Order, data on these entities will be available at PST.AG in due course.

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