US Grants Iran Sanctions

The US permitted South Korea to pay damages owed to an Iranian company, in an exemption to sanctions on Tehran that can be viewed as a trust-building step in the ongoing nuclear talks. The US Treasury Department Office of Foreign Assets Control granted South Korea a “specific license” earlier this week to pay Dayyani Holdings, which is linked to the Iranian government. The amount has not been determined, but Seoul owes the company $63 million since 2018, which was not paid due to US sanctions on Iran.
The move came days after South Korean Vice Foreign Minister Choi Jong-kun met with US Special Envoy for Iran Robert Malley, as well as the Iranian and European delegations to the Vienna talks. Iran says South Korea owes about $7 billion for oil cargo, which it has not paid after then-US president Donald Trump left the Iran deal in 2018 and imposed “maximum pressure” sanctions. The negotiations in Vienna, which are in their eighth round, are for the US and Iran to return to the 2015 Joint Comprehensive Plan of Action, which restricted Iran’s nuclear program in exchange for the gradual lifting of sanctions until 2030.


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