320. What types of sanctions relief are provided to Iran pursuant to the Joint Plan of Action (JPOA), reached on November 24, 2013, between the P5 + 1 and the Islamic Republic of Iran?
In the JPOA, the U.S. government (USG) has committed to suspend temporarily certain sanctions involving Iran’s purchase and sale of gold and other precious metals, Iran’s export of petrochemical products, Iran’s automotive industry, and certain associated services* regarding each of the foregoing. The JPOA also includes a commitment to establish financial channels to facilitate Iran’s import of certain humanitarian goods to Iran, payment of medical expenses incurred by Iranians abroad, payments of Iran’s UN obligations, and payments of $400 million in governmental tuition assistance for Iranian students studying abroad. In addition, the JPOA includes a commitment to license certain transactions related to the safety of Iran’s civil aviation industry. Finally, in the JPOA the USG has committed to pause efforts to further reduce Iran’s crude oil exports and to enable Iran to access $4.2 billion in Restricted Funds** in installments over the course of the six-month period beginning January 20, 2014, and ending July 20, 2014 (the JPOA Period). Unless otherwise noted, these relief measures do not include transactions with persons on the U.S. Treasury Department’s Office of Foreign Assets Control’s (OFAC) List of Specially Designated Nationals and Blocked Persons (the SDN List) (http://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/default.aspx).
The USG will continue to vigorously enforce our sanctions against Iran that are not subject to the limited relief provided pursuant to the JPOA, including by taking action against those who seek to evade or circumvent our sanctions. The USG also retains the authority to revoke this limited sanctions relief at any time if Iran fails to meet its commitments under the JPOA. [01-20-14]
* The term "associated service" means any necessary service – including any insurance, transportation or financial service – ordinarily incident to the underlying activity for which sanctions relief has been provided pursuant to the JPOA, except in the case of Iran’s exports of crude oil, for which the JPOA only references associated insurance and transportation services. Unless otherwise noted, such services may not involve persons identified on the U.S. Treasury Department’s Office of Foreign Assets Control’s List of Specially Designated Nationals and Blocked Persons.
** The term "Restricted Funds" refers to: (i) any existing and future revenues from the sale of Iranian petroleum or petroleum products, wherever they may be held, and (ii) any Central Bank of Iran (CBI) funds, with certain exceptions for non-petroleum CBI funds held at a foreign country’s central bank. See Question 6 for a more detailed discussion of Restricted Funds.
1) FAQ Superseded by the entry into force of the JCPOA. The FAQ appears to not otherwise be significant for interpretation of secondary sanctions provisions. The FAQ is, as of 7/2021, housed on OFAC's "Joint Plan of Action (JPOA) Archive and Joint Comprehensive Plan of Action (JCPOA) Archive".