US & Swiss Iran humanitarian mechanism now operational

OFAC has issued General Licence 8 “Authorising certain humanitarian trade transactions involving the Central Bank of Iran” (CBI) following agreement of the Swiss Humanitarian Trade Arrangement (SHTA) by the US and Swiss government. The SHTA is now fully operational following pilot transactions in January 2020 (see post). The SHTA allows foreign financial institutions, governments and companies to engage in humanitarian-related …

IranIran SwitzerlandSwitzerland United StatesUnited States

About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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