President Trump has announced that the United States will withdraw from the Joint Comprehensive Plan of Action (JCPOA, also informally known as the Iran nuclear deal) that was entered into in 2015 by Iran, the United States, China, France, Germany, Russia and the United Kingdom. The JCPOA was negotiated in an effort to ensure that Iran’s nuclear program would be used exclusively for non-military, peaceful means. On January 16, 2016, the JCPOA was formally implemented and certain trade and economic sanctions against Iran were relaxed by the other parties to the deal. From its inception, the Iran nuclear deal has had its share of proponents and critics, and was a hot-button issue during the 2016 presidential election. During the campaign, and since, President Trump repeatedly stated that the deal was “one of the worst and most one-sided transactions the United States has ever entered into.” In making today’s announcement, President Trump stated that the JCPOA was “defective at its core” since it would not prevent Iran from ultimately developing a nuclear bomb. He argued that the sunset provisions of the deal and the onsite inspection provisions were clearly inadequate, and at the time when the United States had “maximum leverage,” it entered into a deal that gave Iran, a “leading state sponsor of terrorism,” billions of dollars. The president called the agreement “a great embarrassment to me as a citizen and all citizens of the United States.”
Sanctions
U.S. Department of Treasury Sanctions Certain Russian Oligarchs, Government Officials, Energy Companies and Rosoboroneksport
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), in consultation with the Department of State, has sanctioned numerous Russian oligarchs and the companies they own or control, 17 senior Russian government officials, and a state-owned Russian weapons trading company. In his announcement, Treasury Secretary Steven Mnuchin stated, “The Russian government engages…
USTR Releases 2018 National Trade Estimate Report on Foreign Trade Barriers
The Office of the U.S. Trade Representative (USTR) has released its annual report on significant foreign trade barriers, providing an inventory of the most important foreign barriers affecting U.S. exports of goods and services, foreign direct investment by U.S. persons and protection of intellectual property rights. The term “trade barriers” does not have a fixed definition but is broadly defined by the USTR as government laws, regulations, policies or practices that either protect domestic goods and services from foreign competition, artificially stimulate exports of particular domestic goods and services, or fail to provide adequate and effective protection of intellectual property rights. The report classifies foreign trade barriers into 10 different categories, including import policies, government procurement, export subsidies, lack of intellectual property protections and service/investment barriers.
OFAC Sanctions Russia for Malicious Cyber Activity
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned five entities and 19 individuals it has identified as engaging in Russian cyber activity, including “attempted interference in U.S. elections, destructive cyber-attacks, and intrusions targeting critical infrastructure,” according to Treasury Secretary Steven Mnuchin. The Treasury Department indicated that these sanctions were…
BIS Sanctions 21 Russia-Related Entities
The Department of Commerce’s Bureau of Industry and Security (BIS) has sanctioned 21 entities determined by the U.S. government to be acting contrary to the national security or foreign policy interests of the United States. BIS has taken this action to ensure the efficacy of existing sanctions on the Russian Federation (Russia) for violating international…
President Trump Comments on Trade in State of the Union Address
In a lengthy State of the Union address, President Trump covered many issues and highlighted his administration’s achievements over the past year in claiming a “new American moment.” On international trade matters, Trump broke no new ground in reiterating his administration’s position that it will promote only “free, fair and reciprocal trade.” In his opening…
Treasury Department Releases Russian Oligarch Report; State Department Declines to Implement New Sanctions
As required by Section 241 of the Countering America’s Adversaries Through Sanctions Act (CAATSA) (see our Trump and Trade Update dated 10/30/17), the Treasury Department has submitted to Congress a detailed and classified report identifying senior Russian political figures, Russian oligarchs and Russian parastatal entities (companies in which Russian state ownership is at least…
OFAC Sanctions Additional Iranian Individuals and Entities for Human Rights Abuses and Support of Weapons Proliferation
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated 14 individuals and entities for sanctions arising from serious human rights abuses and censorship in Iran and support of designated Iranian weapons proliferators. According to Treasury Secretary Steven T. Mnuchin, “The United States will not stand by while the Iranian regime continues…
President Trump Reluctantly Continues to Waive Nuclear Sanctions on Iran
President Trump has announced that he will continue to waive nuclear-related sanctions toward Iran despite his misgivings about the multi-party agreement with Iran known as the Joint Comprehensive Plan of Action (JCPOA, or commonly known as the Iran nuclear agreement) and Iran’s continued support for international terrorism, its human rights abuses and its continuing censorship…
State Department Publishes List of Russian Defense and Intelligence Sector Entities Under New Sanctions Law
Section 231 of the Countering America’s Adversaries Through Sanctions Act (CAATSA), enacted on August 2, 2017, mandates that the president must impose certain sanctions on persons the president determines knowingly engage in a significant transaction with a person that is part of, or operates for or on behalf of, the defense or intelligence sectors of…
