WASHINGTON – The Obama administration is further easing sanctions on Iran to make it easier for foreign firms to do business with the country following last year’s nuclear deal.
In new guidance published late Friday, the Treasury Department says that some previously prohibited dollar transactions with Iran by offshore banking institutions are allowed as long as they do not enter the U.S. financial system.
The clarifications also remove a blanket ban on foreign transactions with Iranian firms that may be controlled or minority owned by a person who remains subject to U.S. sanctions. The language says such transactions are “not necessarily sanctionable” under existing U.S. regulations.
Since the nuclear deal took effect earlier this year, Iran has complained that the U.S. is not living up to its end of the deal.