Feb. 27, 2020–The U.S. Treasury Department published a license granting exceptions to its sanctions regime against Iran for shippers of humanitarian supplies, such as food, medicine and medical equipment.
The Swiss government launched the new payment channel late last month as a pilot program in cooperation with the U.S. government. Today’s action provides the legal framework for that channel
Medical shortages started in Iran after the United States pulled out of the nuclear deal and started new sanctions against Iran. Although the sanctions had exempted medical supplies, trade was disrupted due to concern by traders about getting caught up in the sanctions. According to AFP News Agency, “This in turn has worsened the acute shortage of medicines and led to skyrocketing prices, against the backdrop of an increasingly devalued rial.”
The specific language is in U.S. General License No. 8, found here.
Copyright secured by Digiprove © 2020 Patti Mohr