Oil and Petrochemicals

New Regulations

On the strength of Article 21 of the JCPOA, the following sanctions will be lifted, for non-US persons (for the definition, see the end of this file):

  1. Investment, including participation in joint ventures, goods, services, information, technology and technical expertise and support for Iran's oil, gas and petrochemical sectors;
  2. Purchase, acquisition, sale, transportation or marketing of petroleum, petrochemical products and natural gas from Iran;
  3. Export, sale or provision of refined petroleum products and petrochemical products to Iran;

The above sanctions are found in the following US laws and regulations:

Crude oil:

- ISA Section 5(a)(7);

- NDAA Sections 1245(d)(1) and (3);

- TRA Section 212(a);

- IFCA Sections 1244(c)(1) and (d), 1246(a) and 1247(a);

- Section 1 of E.O. 13574, Sections 1(a)(i)-(ii), 2(a)(i) and 5(a) of E.O. 13622, Section 5 of E.O. 13628, and Sections 2(a)(i) and 3(a)(i) of E.O. 13645.

Investment, including participation in joint ventures, goods, services, information, technology and technical expertise and support for Iran's oil, gas, and petrochemical sectors:

- ISA Sections 5(a)(1)-(2) and (4)-(8);

- TRA Section 212(a);

- IFCA Sections 1244(c)(1), (d) and (h)(2), 1245(a)(1)(B), (a)(1)(C)(i)(I)-(II), (a)(1)(C)(ii)(I)-(II) and (c), 1246(a) and 1247(a);

- Section 1 of E.O. 13574, Section 1 of E.O. 13590, Sections 1(a)(i)-(ii), 2(a)(i)-(iii) and 5(a) of E.O. 13622, and Sections 2(a)(i) and 3(a)(i) of E.O. 13645.

Sanctions on the purchase, acquisition, sale, transportation, or marketing of petroleum, petrochemical products and natural gas from Iran:

NDAA Sections 1245(d)(1) and (3);

- TRA Section 212(a);

- IFCA Sections 1244(c)(1), (d) and (h)(2), 1246(a) and 1247(a);

- Sections 1(a)(i)-(iii), 2(a)(i)-(ii) and 5(a) of E.O. 13622, and Sections 2(a)(i) and 3(a)(i) of E.O. 13645.

Sanctions on the export, sale or provision of refined petroleum products and petrochemical products to Iran:

- ISA Section 5(a)(3); NDAA Sections 1245(d)(1) and (3);

- TRA Section 212(a);

- IFCA Sections 1244(c)(1) and (d), 1246(a) and 1247(a);

- Section 1 of E.O. 13574, Sections 1(a)(i) and 5(a) of E.O. 13622, Section 5 of E.O. 13628, and Sections 2(a)(i) and 3(a)(i) of E.O. 13645.

 

 

See also:
International Business Agreements
International Business Services
Feasibility Studies
Oil, Gas & Petrochemicals
Automotive Industries
Medicinal & Cosmeceutical Products

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