US says Iran rules don't ease sanctions, but others disagree

AP News
Posted: Oct 08, 2016 4:01 PM

WASHINGTON (AP) — The Obama administration says its new guidance for foreign companies doing business with Iran doesn't ease remaining sanctions on the country. Although some sanctions experts disagree, the administration says the revised language merely clarifies what's allowed since last year's nuclear deal.

The Treasury Department said Saturday that an update to its regulations published late Friday "does not represent additional sanctions relief."

However, the clarifications do make explicit that some previously prohibited dollar transactions with Iran by offshore banks are now allowed as long as they do not enter the U.S. financial system. And, they remove what had been seen as a blanket ban on foreign transactions with Iranian firms controlled by a person who remains subject to U.S. non-nuclear sanctions, which some say effectively eases the sanctions.