Article

Steering Clear of Iran Petroleum Sanctions

Global Trade Review

08 Jun 2020

Partner at Morrison & Foerster and a former OFAC director John E. Smith joins a discussion in Global Trade Review that explores whether or not opportunities for legitimate trade with Iran may still exist, despite the collapse of the UK and U.S. nuclear deal.

In February, amid the COVID-19 outbreak, the Department of the Treasury announced the Swiss Humanitarian Trade Agreement (SHTA), a provision to the sanctions intended to ensure that supplies such as food, medicine, and medical devices can still be shipped to the region. John agreed that the SHTA “might provide a safer or risk-free alternative for companies and governments that want to send those goods to Iran.”

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