Swiss Federal Council partially lifts the Iran-sanctions

Iran, sanctions, Iran-Regulation

On Sunday, January 17, 2016, the Swiss Federal Counsel partially lifted the sanctions against Iran. However, in connection with the complete revision of the Iran-Regulation, the following measures will stay in force:

  • Arms embargo: prohibition to sell, supply, or transfer, directly or indirectly, or procure arms and related materiel of all types, including weapons and ammunition, military vehicles and equipment, paramilitary equipment and spare parts for such arms and related materiel; and the provision of associated services (article 2, 4, 5 revised Iran-Regulation)
  • Nuclear transfers and activities: proliferation-sensitive transfers and activities concerning certain goods and technology, including associated services, such as technical and financial assistance and related investments as well as the trade of dual-use goods are subject to prior authorisation (article 3 rev. Iran-Regulation)
  • Remaining individuals and entities subject to restrictive measures: certain persons and entities will remain subject to an asset freeze, visa ban and prohibition on the provision of specialised financial messaging services (article 6, 7, 8, 10 rev. Iran-Regulation)
  • Cargo Aircrafts: prohibition to supply technical services for Iranian cargo aircrafts if the supplier knows or suspects that the aircraft is carrying goods whose supply, transfer or sale is prohibited (article 9 Iran-Regulation)

As communicated already October 21, 2015, Switzerland herewith follows the partial lifting of the Iran-sanctions by the USA and the EU. The lifting was made possible by the implementation of the “Joint Comprehensive Plan of Action” (JCPOA) by the E3/EU+3 (China, Russia, USA, Germany, France and the UK) as well as Iran on January 16, 2016.

This positive development significantly increases the possibilities of Swiss companies in the trade business with Iran. However, the exact wording of the revised Regulation still needs to be analysed.

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