80 FR 32193 - Provision of Certain Temporary and Limited Sanctions Relief in Order To Implement the Joint Plan of Action of November 24, 2013, Between the P5+1 and the Islamic Republic of Iran, as Extended Through June 30, 2015
DEPARTMENT OF STATE Federal Register Volume 80, Issue 108 (June 5, 2015)
Federal Register Volume 80, Issue 108 (June 5, 2015)
| Page Range | 32193-32195 | |
| FR Document | 2015-13814 |
[Federal Register Volume 80, Number 108 (Friday, June 5, 2015)] [Notices] [Pages 32193-32195] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-13814] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF STATE [Public Notice 9163] Provision of Certain Temporary and Limited Sanctions Relief in Order To Implement the Joint Plan of Action of November 24, 2013, Between the P5+1 and the Islamic Republic of Iran, as Extended Through June 30, 2015 AGENCY: Department of State. ACTION: Notice. ----------------------------------------------------------------------- SUMMARY: On November 24, 2013, the United States and its partners in the P5+1--France, the United Kingdom, Russia, China, and Germany-- reached an initial understanding with Iran, outlined in a Joint Plan of Action (JPOA), that halts progress on its nuclear program and rolls it back in key respects. In return, the P5+1 committed to provide limited, temporary, and targeted sanctions relief to Iran. The JPOA was renewed by mutual consent of the P5+1 and Iran on July 19, 2014, and again on November 24, 2014, extending the temporary sanctions relief provided under the JPOA to cover the period beginning on November 24, 2014, and ending June 30, 2015 (the Extended JPOA Period), in order to continue negotiations aimed at achieving a long- term comprehensive solution to ensure that Iran's nuclear program will be exclusively peaceful. On April 2, 2015, the P5+1 and Iran reached an understanding on the parameters of a ``Joint Comprehensive Plan of Action (JCPOA).'' While these parameters do not relieve, suspend, or terminate any additional sanctions for Iran, they do reflect the significant progress that has been made towards reaching a final deal with Iran that will address its nuclear program in a way that satisfies the international community. In order to continue to facilitate progress in negotiating a comprehensive deal, and to the extent required to continue implementing the sanctions relief called for in the JPOA, as extended, the Secretary has exercised waivers of certain sanctions. This Notice outlines the U.S. government actions taken to continue implementing the sanctions relief aspects of the JPOA, as extended. DATES: Effective Date: The effective dates of these waiver actions are as described in the determinations set forth below. FOR FURTHER INFORMATION CONTACT: On general issues: Paul Pavwoski, Office of Economic Sanctions Policy and Implementation, Department of State, Telephone: (202) 647-8836. SUPPLEMENTARY INFORMATION: To implement this limited sanctions relief, the U.S. government has executed temporary, partial waivers of certain statutory sanctions and has issued guidance regarding the suspension of sanctions under relevant Executive Orders and regulations. All U.S. sanctions not explicitly waived or suspended pursuant to the JPOA as extended remain fully in force, including sanctions on transactions with individuals and entities on the Treasury Department's list of Specially Designated Nationals and Blocked Persons (SDN List) unless otherwise specified. Furthermore, U.S. persons and foreign entities owned or controlled by U.S. persons (``U.S.-owned or -controlled foreign entities'') continue to be generally prohibited from conducting transactions with Iran, including any transactions of the types permitted pursuant to the JPOA as extended, unless licensed to do so by the Department of the Treasury's Office of Foreign Assets Control (OFAC). The U.S. government will continue to enforce U.S. sanctions laws and regulations against those who engage in sanctionable activities that are not covered by the suspensions and temporary waivers issued pursuant to the JPOA as extended. All suspended sanctions are scheduled to resume on July 1, 2015, unless further action is taken by the P5+1 and Iran and subsequent guidance is issued by the U.S. government. [[Page 32194]] Companies engaging in activities covered by the temporary sanctions relief should expect sanctions to apply to any activities that extend beyond the current end date of the Extended JPOA Period, June 30, 2015. The temporary suspension of sanctions applies only to activities that begin and end during the period January 20, 2014, to June 30, 2015. Except as specified below with respect to payments for insurance claims, the suspension does not apply to any related, otherwise sanctionable conduct, including shipping and financial activities, undertaken before that period or after that period, even if they are undertaken pursuant to contracts entered into during the JPOA period or Extended JPOA Period. For example, in the absence of further action by the P5+1 and Iran and accompanying guidance from the U.S. government, deliveries of goods or services after the Extended JPOA Period would be sanctionable even if relevant contracts were entered into during the JPOA Period or Extended JPOA Period. To the extent that the provision of insurance or reinsurance is an associated service of an activity for which the JPOA provides temporary relief, the provision of such insurance or reinsurance by a non-U.S. person not otherwise subject to the Iran Transactions Sanctions Regulations during the Extended JPOA Period would not be sanctionable. Insurance payments for claims arising from incidents that occur during the JPOA Period and/or Extended JPOA Period may be paid after June 30, 2015, so long as the underlying transactions and activities conform to all other aspects of the sanctions remaining in place and the terms of the sanctions relief provided in the JPOA. Insurance and reinsurance companies should contact OFAC or the Office of Economic Sanctions Policy and Implementation in the State Department's Bureau of Economic and Business Affairs directly with any inquiries. U.S. persons and their foreign subsidiaries remain prohibited from participating in the provision of insurance or reinsurance services to or for the benefit of Iran or sanctioned entities, including with respect to all elements of the sanctions relief provided pursuant to the JPOA, unless specifically authorized by OFAC. On May 15, 2015, the Secretary of State took the following actions: Acting under the authorities vested in me as Secretary of State, including through the applicable delegations of authority, I hereby make the following determinations and certifications: Pursuant to Sections 1244(i), 1245(g), 1246(e), and 1247(f) of the Iran Freedom and Counter-Proliferation Act of 2012 (subtitle D of title XII of Public Law 112-239, 22 U.S.C. 8801 et seq.) (IFCA), I determine that it is vital to the national security of the United States to waive the imposition of sanctions pursuant to: 1. Section 1244(c)(1) of IFCA \1\ to the extent required for: --------------------------------------------------------------------------- \1\ Pursuant to section 1244(c)(2)(C)(iii) of IFCA, the relevant sanction in Section 1244(c)(1) continues not to apply, by its terms, in the case of Iranian financial institutions that have not been designated for the imposition of sanctions in connection with Iran's proliferation of weapons of mass destruction or delivery systems for weapons of mass destruction, support for international terrorism, or abuses of human rights (as described in section 1244(c)(3)). --------------------------------------------------------------------------- a. Transactions by non-U.S. persons for the export from Iran of petrochemical products,\2\ and for associated services, excluding any transactions involving persons on the list of specially designated nationals and blocked persons of the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury (hereinafter the SDN List) except for the following companies: Bandar Imam Petrochemical Company; Bou Ali Sina Petrochemical Company; Ghaed Bassir Petrochemical Products Company; Iran Petrochemical Commercial Company; Jam Petrochemical Company; Marjan Petrochemical Company; Mobin Petrochemical Company; National Petrochemical Company; Nouri Petrochemical Company; Pars Petrochemical Company; Sadaf Petrochemical Assaluyeh Company; Shahid Tondgooyan Petrochemical Company; Shazand Petrochemical Company; and Tabriz Petrochemical Company; --------------------------------------------------------------------------- \2\ 77 FR 67726-67731 (Nov. 13, 2012). --------------------------------------------------------------------------- b. transactions by U.S. or non-U.S. persons for the supply and installation of spare parts necessary for the safety of flight for Iranian civil aviation, for safety-related inspections and repairs in Iran, and for associated services, provided that OFAC has issued any required licenses, excluding any transactions involving persons on the SDN List except for Iran Air; c. transactions by non-U.S. persons to which sanctions would not apply if an exception under section 1244(g)(2) of IFCA were applied to China, India, Japan, the Republic of Korea, Taiwan, and Turkey, and for insurance and transportation services associated with such transactions, provided that such transactions are consistent with the purchase amounts provided for in the Joint Plan of Action of November 24, 2013, as extended, excluding any transactions or associated services involving persons on the SDN List except for the National Iranian Oil Company and the National Iranian Tanker Company; d. transactions by non-U.S. persons for the sale, supply or transfer to or from Iran of precious metals, provided that such transactions are within the scope of the waiver of Sections 1245(a)(1)(A) and 1245(c) of IFCA (section 3 below), and for associated services, excluding any transactions involving persons on the SDN List except for any political subdivision, agency, or instrumentality of the Government of Iran listed solely pursuant to E.O. 13599; 2. Section 1244(d) of IFCA to the extent required for the sale, supply or transfer of goods or services by non-U.S. persons in connection with transactions by non-U.S. persons to which sanctions would not apply if an exception under section 1244(g)(2) of IFCA were applied to China, India, Japan, the Republic of Korea, Taiwan, and Turkey, and for insurance and transportation services associated with such transactions, provided that such transactions are consistent with the purchase amounts provided for in the Joint Plan of Action of November 24, 2013, as extended, excluding any transactions or associated services involving persons on the SDN List except for the National Iranian Oil Company and the National Iranian Tanker Company; 3. Sections 1245(a)(1)(A) and 1245(c) of IFCA to the extent required for transactions by non-U.S. persons for the sale, supply, or transfer to or from Iran of precious metals, provided that: a. Such transactions do not involve persons on the SDN List, except for any political subdivision, agency, or instrumentality of the Government of Iran listed solely pursuant to E.O. 13599 or any Iranian depository institution listed solely pursuant to E.O. 13599; and b. this waiver shall not apply to transactions for the sale, supply, or transfer to Iran of precious metals involving funds credited to an account located outside Iran pursuant to Section 1245(d)(4)(D)(ii)(II) of the National Defense Authorization Act for Fiscal Year 2012; 4. Section 1246(a) of IFCA \3\ to the extent required for the provision of underwriting services or insurance or reinsurance: --------------------------------------------------------------------------- \3\ Pursuant to section 1246(a)(1)(C) of IFCA, the relevant sanction in section 1246(a)(1) continues not to apply, by its terms, in the case of Iranian financial institutions that have not been designated for the imposition of sanctions in connection with Iran's proliferation of weapons of mass destruction or delivery systems for weapons of mass destruction, support for international terrorism, or abuses of human rights (as described in section 1246(b)). --------------------------------------------------------------------------- a. By non-U.S. persons for the export from Iran of petrochemical products and for associated services, excluding any transactions involving persons on the SDN List except for the following companies: Bandar Imam Petrochemical Company; Bou Ali Sina Petrochemical Company; Ghaed Bassir Petrochemical Products; Iran Petrochemical Commercial Company; Jam Petrochemical Company; Marjan Petrochemical Company; Mobin Petrochemical Company; National Petrochemical Company; Nouri Petrochemical Company; Pars Petrochemical Company; Sadaf Petrochemical Assaluyeh Company; Shahid Tondgooyan Petrochemical Company; Shazand Petrochemical Company; and Tabriz Petrochemical Company; b. by U.S. persons or non-U.S. persons for the supply and installation of spare parts necessary for the safety of flight for Iranian civil aviation, for safety-related inspections [[Page 32195]] and repairs in Iran, and for associated services, provided that OFAC has issued any required licenses, excluding any transactions involving persons on the SDN List except for Iran Air; c. by non-U.S. persons for transactions to which sanctions would not apply if an exception under section 1244(g)(2) of IFCA were applied to China, India, Japan, the Republic of Korea, Taiwan, and Turkey, and for insurance and transportation services associated with such transactions, provided that such transactions are consistent with the purchase amounts provided for in the Joint Plan of Action of November 24, 2013, as extended, excluding any transactions or associated services involving persons on the SDN List except for the National Iranian Oil Company and the National Iranian Tanker Company; and d. by non-U.S. persons for the sale, supply or transfer to or from Iran of precious metals, provided that such transactions are within the scope of the waiver of Sections 1245(a)(1)(A) and 1245(c) of IFCA, and for associated services, excluding any transactions involving persons on the SDN List except for any political subdivision, agency, or instrumentality of the Government of Iran listed solely pursuant to E.O. 13599; e. by non-U.S. persons for the sale, supply or transfer to Iran of goods and services used in connection with the automotive sector of Iran and for associated services, excluding any transactions involving persons on the SDN List. 5. Section 1247(a) of IFCA \4\ to the extent required for transactions by foreign financial institutions on behalf of: --------------------------------------------------------------------------- \4\ Pursuant to section 1247(a) of IFCA, the relevant sanction in section 1247(a) still continues not to apply, by its terms, in the case of Iranian financial institutions that have not been designated for the imposition of sanctions in connection with Iran's proliferation of weapons of mass destruction or delivery systems for weapons of mass destruction, support for international terrorism, or abuses of human rights (as described in section 1247(b)). --------------------------------------------------------------------------- a. Bandar Imam Petrochemical Company; Bou Ali Sina Petrochemical Company; Ghaed Bassir Petrochemical Products; Iran Petrochemical Commercial Company; Jam Petrochemical Company; Marjan Petrochemical Company; Mobin Petrochemical Company; National Petrochemical Company; Nouri Petrochemical Company; Pars Petrochemical Company; Shahid Tondgooyan Petrochemical Company; Sadaf Petrochemical Assaluyeh Company; Shahid Tondgooyan Petrochemical Company; Shazand Petrochemical Company; and Tabriz Petrochemical Company for the export from Iran of petrochemicals; b. Iran Air for the supply and installation of spare parts necessary for the safety of flight by Iran Air and for safety- related inspections and repairs for Iran Air, provided that OFAC has issued any required licenses; c. the National Iranian Oil Company and the National Iranian Tanker Company for transactions by non-U.S. persons to which sanctions would not apply if an exception under section 1244(g)(2) of IFCA were applied to China, India, Japan, the Republic of Korea, Taiwan, and Turkey, provided that such transactions are consistent with the purchase amounts provided for in the Joint Plan of Action of November 24, 2013, as extended, excluding any transactions or associated services involving any other persons on the SDN List; and d. any political subdivision, agency, or instrumentality of the Government of Iran listed solely pursuant to E.O. 13599 for the sale, supply or transfer to or from Iran of precious metals, provided that such transactions are within the scope of the waiver of Sections 1245(a)(1)(A) and 1245(c) of IFCA. Pursuant to Section 1245(d)(5) of the National Defense Authorization Act for FY 2012, as amended, I determine that it is in the national security interest of the United States to waive the imposition of sanctions under Section 1245(d)(1) with respect to: (1) Foreign financial institutions under the primary jurisdiction of China, India, Japan, the Republic of Korea, the authorities on Taiwan, and Turkey, subject to the following conditions: a. This waiver shall apply to a financial transaction only for trade in goods and services between Iran and the country with primary jurisdiction over the foreign financial institution involved in the financial transaction (but shall not apply to any transaction for the sale, supply, or transfer to Iran of precious metals involving funds credited to an account described in paragraph (b)); b. any funds owed to Iran as a result of such trade shall be credited to an account located in the country with primary jurisdiction over the foreign financial institution involved in the financial transaction; and c. with the exception that certain foreign financial institutions notified directly in writing by the U.S. government may engage in financial transactions with the Central Bank of Iran in connection with the repatriation of revenues and the establishment of a financial channel, to the extent specifically provided for in the Joint Plan of Action of November 24, 2013, as extended. (2) foreign financial institutions under the primary jurisdictions of Switzerland that are notified directly in writing by the U.S. Government, to the extent necessary for such foreign financial institutions to engage in financial transactions with the Central Bank of Iran: (i) Within the scope of the waiver of Sections 1245(a)(1) and 1245(c) of IFCA issued on May 15, 2015, and any extension of that waiver; and (ii) in connection with the repatriation of revenues and the establishment of a financial channel as specifically provided for in the Joint Plan of Action of November 24, 2013, as extended. (3) foreign financial institutions under the primary jurisdiction of Oman that are notified directly in writing by the U.S. Government, to the extent necessary for such foreign financial institutions to engage in financial transactions with the Central Bank of Iran in connection with the repatriation of revenues and the establishment of a financial channel as specifically provided for in the Joint Plan of Action of November 24, 2013, as extended. (4) foreign financial institutions under the primary jurisdiction of South Africa subject to the following conditions: a. This waiver shall apply to a financial transaction only for trade in goods and services between Iran and South Africa (but shall not apply to any transaction for the purchase of crude oil from Iran or any transaction for the sale, supply, or transfer to Iran of precious metals involving funds credited to an account described in paragraph (b)); b. any funds owed to Iran as a result of such trade shall be credited to an account located in South Africa; and c. with the exception of certain foreign financial institutions notified directly in writing by the U.S. government to the extent necessary for such financial institutions to engage in financial transactions with the Central Bank of Iran within the scope of the waiver of Sections 1245(a)(1) and 1245(c) of IFCA issued on [May 15, 2015] and any extension of that waiver. Pursuant to Section 4(c)(1)(A) of the Iran Sanctions Act of 1996 (Public Law 104-172, 50 U.S.C. 1701 note) (ISA), I certify that it is vital to the national security interests of the United States to waive the application of section 5(a)(7) of ISA to the National Iranian Oil Company and the National Iranian Tanker Company to the extent required for insurance and transportation services provided on or after May 15, 2015, and associated with transactions to which sanctions would not apply if an exception under section 1244(g)(2) of IFCA were applied to China, India, Japan, the Republic of Korea, Taiwan, and Turkey, provided that such transactions are consistent with the purchase amounts provided for in the Joint Plan of Action of November 24, 2013, as extended. These waivers shall take effect upon their transmittal to Congress, unless otherwise provided in the relevant provision of law. (Signed John F. Kerry, Secretary of State) Therefore, these sanctions have been waived as described in the determinations above. Relevant agencies and instrumentalities of the United States Government shall take all appropriate measures within their authority to carry out the provisions of this notice. Dated: June 1, 2015. Kurt W. Tong, Acting Assistant Secretary for Economic and Business Affairs. [FR Doc. 2015-13814 Filed 6-4-15; 8:45 am] BILLING CODE 4710-07-P
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approximately 2.44 securities per day. of the information to be collected; and Plan of Action (JCPOA).’’ While these
As of December 31, 2014, there were (d) ways to minimize the burden of the parameters do not relieve, suspend, or
4,184 registered broker-dealers. Each of collection of information on terminate any additional sanctions for
these broker-dealers may clear trades respondents, including through the use Iran, they do reflect the significant
through a participant of a registered of automated collection techniques or progress that has been made towards
clearing agency. We estimate that on other forms of information technology. reaching a final deal with Iran that will
average, a broker-dealer will have to Consideration will be given to address its nuclear program in a way
certify to the participant that it has not comments and suggestions submitted in that satisfies the international
incurred a fail to deliver position on writing within 60 days of this community. In order to continue to
settlement date in an equity security for publication. facilitate progress in negotiating a
which the participant has a fail to An agency may not conduct or comprehensive deal, and to the extent
deliver position at a registered clearing sponsor, and a person is not required to required to continue implementing the
agency or, alternatively, that it is in respond to, a collection of information sanctions relief called for in the JPOA,
compliance with the requirements set under the PRA unless it displays a as extended, the Secretary has exercised
forth in Rule 204(e), 2,572,657 times per currently valid OMB control number. waivers of certain sanctions.
year (4,184 broker-dealers certifying Please direct your written comments This Notice outlines the U.S.
once per day on 2.44 securities, to: Pamela Dyson, Director/Chief government actions taken to continue
multiplied by 252 trading days in a Information Officer, Securities and implementing the sanctions relief
year). The total approximate estimated Exchange Commission, c/o Remi Pavlik- aspects of the JPOA, as extended.
annual burden hour per year will be Simon, 100 F Street NE. Washington, DATES: Effective Date: The effective
approximately 411,625 burden hours DC 20549 or send an email to: PRA_ dates of these waiver actions are as
(2,572,657 multiplied by 0.16 hours/ Mailbox@sec.gov. described in the determinations set forth
certification). Dated: June 2, 2015. below.
V. Pre-Fail Credit Demonstration
Robert W. Errett, FOR FURTHER INFORMATION CONTACT: On
Requirement: If a broker-dealer
Deputy Secretary. general issues: Paul Pavwoski, Office of
purchases or borrows securities in
[FR Doc. 2015–13875 Filed 6–4–15; 8:45 am] Economic Sanctions Policy and
accordance with the conditions
Implementation, Department of State,
specified in Rule 204(e) and determines BILLING CODE 8011–01–P
Telephone: (202) 647–8836.
that it has a net long position or net flat
position on the settlement day on which SUPPLEMENTARY INFORMATION: To
the broker-dealer purchases or borrows DEPARTMENT OF STATE implement this limited sanctions relief,
securities we estimate that a broker- the U.S. government has executed
[Public Notice 9163] temporary, partial waivers of certain
dealer will have to make such
determination with respect to statutory sanctions and has issued
Provision of Certain Temporary and guidance regarding the suspension of
approximately 2.44 securities per day.7 Limited Sanctions Relief in Order To
As of December 31, 2014, there were sanctions under relevant Executive
Implement the Joint Plan of Action of Orders and regulations. All U.S.
4,184 registered broker-dealers. We November 24, 2013, Between the P5+1
estimate that on average, a broker-dealer sanctions not explicitly waived or
and the Islamic Republic of Iran, as suspended pursuant to the JPOA as
will have to demonstrate in its books Extended Through June 30, 2015
and records that it has a net long extended remain fully in force,
position or net flat position on the AGENCY: Department of State. including sanctions on transactions
settlement day for which the broker- ACTION: Notice. with individuals and entities on the
dealer is claiming credit, 2,572,657 Treasury Department’s list of Specially
times per year (4,184 broker-dealers SUMMARY: On November 24, 2013, the Designated Nationals and Blocked
checking for compliance once per day United States and its partners in the Persons (SDN List) unless otherwise
on 2.44 securities, multiplied by 252 P5+1—France, the United Kingdom, specified.
trading days in a year). The total Russia, China, and Germany—reached Furthermore, U.S. persons and foreign
approximate estimated annual burden an initial understanding with Iran, entities owned or controlled by U.S.
hour per year will be approximately outlined in a Joint Plan of Action persons (‘‘U.S.-owned or -controlled
411,625 burden hours (2,572,657 (JPOA), that halts progress on its nuclear foreign entities’’) continue to be
multiplied by 0.16 hours/ program and rolls it back in key generally prohibited from conducting
demonstration). respects. In return, the P5+1 committed transactions with Iran, including any
The total aggregate annual burden for to provide limited, temporary, and transactions of the types permitted
the collection of information undertaken targeted sanctions relief to Iran. pursuant to the JPOA as extended,
pursuant to all five provisions is thus The JPOA was renewed by mutual unless licensed to do so by the
1,912,251 hours per year (411,625 + consent of the P5+1 and Iran on July 19, Department of the Treasury’s Office of
268,128 + 409,248 + 411,625 + 411,625). 2014, and again on November 24, 2014, Foreign Assets Control (OFAC). The
Written comments are invited on: (a) extending the temporary sanctions relief U.S. government will continue to
Whether the proposed collection of provided under the JPOA to cover the enforce U.S. sanctions laws and
information is necessary for the proper period beginning on November 24, regulations against those who engage in
performance of the functions of the 2014, and ending June 30, 2015 (the sanctionable activities that are not
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Commission, including whether the Extended JPOA Period), in order to covered by the suspensions and
information shall have practical utility; continue negotiations aimed at temporary waivers issued pursuant to
(b) the accuracy of the Commission’s achieving a long-term comprehensive the JPOA as extended.
estimates of the burden of the proposed solution to ensure that Iran’s nuclear All suspended sanctions are
collection of information; (c) ways to program will be exclusively peaceful. scheduled to resume on July 1, 2015,
enhance the quality, utility, and clarity On April 2, 2015, the P5+1 and Iran unless further action is taken by the
reached an understanding on the P5+1 and Iran and subsequent guidance
7 See supra note 1. parameters of a ‘‘Joint Comprehensive is issued by the U.S. government.
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and repairs in Iran, and for associated such transactions are consistent with the (4) foreign financial institutions under the
services, provided that OFAC has issued any purchase amounts provided for in the Joint primary jurisdiction of South Africa subject
required licenses, excluding any transactions Plan of Action of November 24, 2013, as to the following conditions:
involving persons on the SDN List except for extended, excluding any transactions or a. This waiver shall apply to a financial
Iran Air; associated services involving any other transaction only for trade in goods and
c. by non-U.S. persons for transactions to persons on the SDN List; and
services between Iran and South Africa (but
which sanctions would not apply if an d. any political subdivision, agency, or
exception under section 1244(g)(2) of IFCA instrumentality of the Government of Iran shall not apply to any transaction for the
were applied to China, India, Japan, the listed solely pursuant to E.O. 13599 for the purchase of crude oil from Iran or any
Republic of Korea, Taiwan, and Turkey, and sale, supply or transfer to or from Iran of transaction for the sale, supply, or transfer to
for insurance and transportation services precious metals, provided that such Iran of precious metals involving funds
associated with such transactions, provided transactions are within the scope of the credited to an account described in
that such transactions are consistent with the waiver of Sections 1245(a)(1)(A) and 1245(c) paragraph (b));
purchase amounts provided for in the Joint of IFCA. b. any funds owed to Iran as a result of
Plan of Action of November 24, 2013, as Pursuant to Section 1245(d)(5) of the such trade shall be credited to an account
extended, excluding any transactions or National Defense Authorization Act for FY located in South Africa; and
associated services involving persons on the 2012, as amended, I determine that it is in
c. with the exception of certain foreign
SDN List except for the National Iranian Oil the national security interest of the United
Company and the National Iranian Tanker States to waive the imposition of sanctions financial institutions notified directly in
Company; and under Section 1245(d)(1) with respect to: writing by the U.S. government to the extent
d. by non-U.S. persons for the sale, supply (1) Foreign financial institutions under the necessary for such financial institutions to
or transfer to or from Iran of precious metals, primary jurisdiction of China, India, Japan, engage in financial transactions with the
provided that such transactions are within the Republic of Korea, the authorities on Central Bank of Iran within the scope of the
the scope of the waiver of Sections Taiwan, and Turkey, subject to the following waiver of Sections 1245(a)(1) and 1245(c) of
1245(a)(1)(A) and 1245(c) of IFCA, and for conditions: IFCA issued on [May 15, 2015] and any
associated services, excluding any a. This waiver shall apply to a financial extension of that waiver.
transactions involving persons on the SDN transaction only for trade in goods and Pursuant to Section 4(c)(1)(A) of the Iran
List except for any political subdivision, services between Iran and the country with
Sanctions Act of 1996 (Public Law 104–172,
agency, or instrumentality of the Government primary jurisdiction over the foreign
of Iran listed solely pursuant to E.O. 13599; 50 U.S.C. 1701 note) (ISA), I certify that it is
financial institution involved in the financial
e. by non-U.S. persons for the sale, supply transaction (but shall not apply to any vital to the national security interests of the
or transfer to Iran of goods and services used transaction for the sale, supply, or transfer to United States to waive the application of
in connection with the automotive sector of Iran of precious metals involving funds section 5(a)(7) of ISA to the National Iranian
Iran and for associated services, excluding credited to an account described in Oil Company and the National Iranian
any transactions involving persons on the paragraph (b)); Tanker Company to the extent required for
SDN List. b. any funds owed to Iran as a result of insurance and transportation services
5. Section 1247(a) of IFCA 4 to the extent such trade shall be credited to an account provided on or after May 15, 2015, and
required for transactions by foreign financial located in the country with primary associated with transactions to which
institutions on behalf of: jurisdiction over the foreign financial sanctions would not apply if an exception
a. Bandar Imam Petrochemical Company; institution involved in the financial
Bou Ali Sina Petrochemical Company; Ghaed under section 1244(g)(2) of IFCA were
transaction; and
Bassir Petrochemical Products; Iran applied to China, India, Japan, the Republic
c. with the exception that certain foreign
Petrochemical Commercial Company; Jam financial institutions notified directly in of Korea, Taiwan, and Turkey, provided that
Petrochemical Company; Marjan writing by the U.S. government may engage such transactions are consistent with the
Petrochemical Company; Mobin in financial transactions with the Central purchase amounts provided for in the Joint
Petrochemical Company; National Bank of Iran in connection with the Plan of Action of November 24, 2013, as
Petrochemical Company; Nouri repatriation of revenues and the extended.
Petrochemical Company; Pars Petrochemical establishment of a financial channel, to the These waivers shall take effect upon their
Company; Shahid Tondgooyan extent specifically provided for in the Joint transmittal to Congress, unless otherwise
Petrochemical Company; Sadaf Plan of Action of November 24, 2013, as provided in the relevant provision of law.
Petrochemical Assaluyeh Company; Shahid extended.
Tondgooyan Petrochemical Company; (Signed John F. Kerry, Secretary of State)
(2) foreign financial institutions under the
Shazand Petrochemical Company; and Tabriz primary jurisdictions of Switzerland that are
Petrochemical Company for the export from Therefore, these sanctions have been
notified directly in writing by the U.S.
Iran of petrochemicals; Government, to the extent necessary for such waived as described in the
b. Iran Air for the supply and installation foreign financial institutions to engage in determinations above. Relevant agencies
of spare parts necessary for the safety of flight financial transactions with the Central Bank and instrumentalities of the United
by Iran Air and for safety-related inspections of Iran: (i) Within the scope of the waiver of States Government shall take all
and repairs for Iran Air, provided that OFAC Sections 1245(a)(1) and 1245(c) of IFCA
has issued any required licenses;
appropriate measures within their
issued on May 15, 2015, and any extension authority to carry out the provisions of
c. the National Iranian Oil Company and of that waiver; and (ii) in connection with the
the National Iranian Tanker Company for repatriation of revenues and the
this notice.
transactions by non-U.S. persons to which establishment of a financial channel as Dated: June 1, 2015.
sanctions would not apply if an exception specifically provided for in the Joint Plan of
under section 1244(g)(2) of IFCA were Kurt W. Tong,
Action of November 24, 2013, as extended.
applied to China, India, Japan, the Republic (3) foreign financial institutions under the Acting Assistant Secretary for Economic and
of Korea, Taiwan, and Turkey, provided that primary jurisdiction of Oman that are Business Affairs.
asabaliauskas on DSK5VPTVN1PROD with NOTICES
notified directly in writing by the U.S. [FR Doc. 2015–13814 Filed 6–4–15; 8:45 am]
4 Pursuant to section 1247(a) of IFCA, the relevant Government, to the extent necessary for such BILLING CODE 4710–07–P
sanction in section 1247(a) still continues not to foreign financial institutions to engage in
apply, by its terms, in the case of Iranian financial financial transactions with the Central Bank
institutions that have not been designated for the
of Iran in connection with the repatriation of
imposition of sanctions in connection with Iran’s
proliferation of weapons of mass destruction or revenues and the establishment of a financial
delivery systems for weapons of mass destruction, channel as specifically provided for in the
support for international terrorism, or abuses of Joint Plan of Action of November 24, 2013,
human rights (as described in section 1247(b)). as extended.
VerDate Sep<11>2014 18:31 Jun 04, 2015 Jkt 235001 PO 00000 Frm 00114 Fmt 4703 Sfmt 9990 E:\FR\FM\05JNN1.SGM 05JNN1](https://thefederalregister.org/doc/80_FR_32301/page/3.svg)
Document Created: 2015-12-15 15:20:08
Document Modified: 2015-12-15 15:20:08
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice. | |
| Contact | On general issues: Paul Pavwoski, Office of Economic Sanctions Policy and Implementation, Department of State, Telephone: (202) 647-8836. | |
| FR Citation | 80 FR 32193 |
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