U.S. Treasury: Financial Relations Guide with Iran Not Related to Current Sanctions

The U.S. Treasury Department states that its guide explaining commercial and financial relations with Iran does not include sanctions that are still in place against Iran and are outside the nuclear agreement. On October 8, the department published a business guide aimed at clarifying ambiguities regarding foreign companies' trade with Iran and financial transactions between Iran and financial institutions. The guide mentions that some transactions previously prohibited are now allowed, provided that the funds do not enter the U.S. financial system. Additionally, according to this guide, trading with Iranian companies that are not sanctioned but are partially or wholly managed by sanctioned individuals 'does not necessarily fall under the sanctions.' The U.S. Treasury clarified the day after the guide's release that no sanctions other than those that have been lifted have been removed. The department emphasized that this guide is intended to clarify the scope of sanctions that have been lifted in connection with the nuclear agreement with Iran and those that remain in place. The U.S. government claims it has clearly explained which sanctions have been lifted and which remain. The United States continues to enforce sanctions against Iranian officials, companies, and entities related to allegations such as human rights violations, ballistic missile development, or 'state-sponsored terrorism.' Iran asserts that its missile program is defensive in nature. Tehran has consistently denied allegations of supporting terrorism, although it has emphasized that it will not cease support for groups listed as terrorist organizations by countries like the U.S., such as Hezbollah in Lebanon. Iran and six world powers reached an agreement last year that limits Tehran's nuclear program while ending sanctions related to it. This agreement has been implemented, but Iranian officials claim that Washington has 'breached its commitments' in recent months. U.S. officials have emphatically rejected this accusation. However, it appears that the new guide is also aimed at facilitating financial relations between Western organizations and countries and Iranian parties. The nuclear agreement with Iran has critics in the United States, almost all of whom are members of the Republican Party. Some Democrats have also criticized the nuclear agreement. The new guide from the U.S. Treasury has faced criticism as well. The Associated Press reports that despite the Treasury's statements and those of some legal experts that this guide does not remove sanctions other than those lifted, opponents of the agreement with Iran have a different view. They argue that this guide clearly facilitates foreign transactions with certain Iranian companies that are, for example, under the control of the Revolutionary Guard.