Australia lifts Iran sanctions

Posted on February 2, 2016 by Michael O'Kane on europeansanctions.com

Australia (following the US, EU, Switzerland, and Japan) lifted its nuclear-related sanctions against Iran following implementation of the JCPOA.

Australia no longer prohibits the provision of goods and services for use in Iran's petrochemical industry and trade in gold and other precious metals, among other activities. Some sanctions remain in force, including prohibitions on business with certain people and entities, activities related to Iran's ballistic missile programme, and an authorisation requirement for transactions to or from Iran worth more than AUD 20,000.

The Australian Department of Foreign Affairs and Trade's press release is here.
 
This article first appeared on European Sanctions Law & Practice (http://europeansanctions.com/), a blog by Maya Lester (+44 20 7379 3550, maya.lester@brickcourt.co.uk), a barrister at Brick Court Chambers, and Michael O'Kane (+44 (0) 20 7822 7777 mokane@petersandpeters.com), head of Business Crime at Peters & Peters.