Iran Sanctions – Is this the End?

Today, November 24, is the last day for the special licensing program related to transaction in civil aircraft parts that are sold or transferred to Iran.  with respect to licensed transactions in civil aircraft parts destined for Iran, ALL TRANSACTIONS SHOULD BE COMPLETED TODAY, unless you have a license that explicitly permits transactions after today (make sure it also permits you to get paid!).

We have published several articles about this program, including:

• Yes, You Can Still (Get a License to) Sell Aircraft Parts to Iran
• Window of Opportunity for Doing Business in Iran
• Iran Sanctions Drawing to a Close?

The program for obtaining such licenses was extended during the summer, and is scheduled to expire today, November 24, 2014.  It has been extended in the past, but at present we do not know what will happen to the program for the foreseeable future.

CNN is reporting that the parties have set a new deadline for concluding their discussions: March 1. 2015.  But it is unclear whether the relaxed sanctions will remain relaxed through this period.

We have checked the Treasury Department information, where this information has typically been published in the past.  No updates are posted, there.  So until we hear otherwise, it is best to make sure you conclude your business with Iran TODAY, because sanctions may be fully enforced as of tomorrow.  If the program is extended, then we will let you know as soon as we know.