OFAC revokes Iran-related licences to effect US withdrawal from JCPOA

In light of US President Trump’s decision to withdraw from the JCPOA and to re-impose sanctions on Iran, OFAC has revoked Iran-related General Licences H and I, which were issued in connection with the JCPOA. OFAC has also amended the Iranian Transactions and Sanctions Regulations in order to narrow the scope of the general licences authorising the importation into the...