By Maya Lester KC & Michael O’Kane

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

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Michael is Senior Partner at Peters & Peters Solicitors LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters &...

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