Iran and six nations outlined a possible permanent accord Thursday that would impose long-term limits on the Islamic republic's nuclear program in exchange for the lifting of nearly all Western and U.N. sanctions. Under the framework, the United States and European Union would begin rolling back all nuclear-related economic and trade sanctions once inspectors verify that Iran has met all of its key nuclear commitments, including the dismantlement of most of its 19,000 centrifuges and the forfeiture of most of its stock of enriched uranium. American restrictions imposed against Iran for terrorism, human rights violations and missile development would remain...
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.
A U.S. congressional panel on Thursday approved legislation targeting dozens of Iranian financial institutions expected to soon be freed of international sanctions under terms of a nuclear accord signed in June.
Iran is in talks to begin working with an intergovernmental financial-crime watchdog as the country prepares for a potential rollback of international sanctions, an official with the organization said.
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 are increasingly relying on economic sanctions as a tool of foreign policy, but the effectiveness of sanctions in achieving policy objectives is questionable, according to Bryan Early, political science professor at University at Albany.
The U.S. House of Representatives passed a measure Thursday that would give lawmakers a framework to review the Obama administration's sanctions-related nuclear agreement with Iran.
The Senate Foreign Relations Committee on Tuesday unanimously passed amended legislation that would grant Congress greater control over a potential nuclear accord to lift Iran sanctions.