House of Representatives votes for new restrictions on trade with Iran

The US House of Representatives has voted to prohibit the sale of commercial aircraft to Iran, including a deal struck by Boeing to sell or lease 109 aircraft to Iran that was authorised following the JCPOA nuclear deal between Iran and the E3/EU+3.  Were it to become law, the legislation would bar the US Treasury from authorising transactions by US financial institutions in relation to the export of commercial aircraft to Iran and also bar the US Export-Import Bank from financing any transactions involving the Iranian government or Iranian entities.

President Obama has said that he will veto the legislation if it reaches his desk, and that if enacted “the sweeping and vague nature of this provision would have a chilling effect on US and non-US entities seeking to engage in permissible business with Iran”.  Since sanctions relief under the JCPOA came into effect in January this year, several business groups have criticised a lack of clarity as to what sanctions obligations remain in place as a barrier to reengaging with Iran (see previous blog).

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About Maya Lester QC

Maya Lester QC

Maya Lester QC is a senior barrister (Queen’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. The legal directories say she is the...

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