U.S. President-elect Donald Trump's pledge to reverse current American sanctions policies for Cuba and Russia is forcing financial institutions to reconsider whether and how to process transactions to and from those countries, say sources.
The expected reemergence of Iran on global markets will likely pose the toughest challenge for sanctions compliance officers in the coming year, according to Alexandre Lamy, an attorney with Baker & McKenzie's International Trade Practice Group.
U.S. officials should blacklist an elite Iranian military branch and its foreign proxies for their suspected financial support of terrorism, analysts and lawmakers said Thursday.
Western officials face an uphill battle in preventing Iran from exploiting the global financial system once key banking restrictions against the Persian nation are lifted, U.S. lawmakers and witnesses said Wednesday.
An accord between Iran and six nations expected to result in the broad suspension of sanctions against the Islamic republic will likely bring questions along with opportunities for banks.
U.S. officials on Tuesday extended temporary sanctions relief for Iran by another week as diplomats said they would miss a deadline to reach a final accord restricting the Islamic Republic's nuclear program.
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