Iran Sanctions Relief Extended Through November, Says OFAC
The sanctions relief deal struck between Iran and P5+1 countries in January will be extended through Nov. 24, 2014, said the Treasury Department’s Office of Foreign Assets Control (OFAC). The P5+1 countries include the U.S., Russia, China, United Kingdom, France…
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and Germany. The sanctions relief was originally set to expire on July 20. The relief liberalizes restrictions on Iranian exports of petrochemical products, Iran’s purchase and sale of gold and precious metals, the provision of goods and services to Iran’s automotive sector, and the licensing of safety-of-flight inspections and repairs for Iranian civil aviation, and establishes channels to permit importation of humanitarian goods (see 14012715).