[Federal Register Volume 80, Number 73 (Thursday, April 16, 2015)]
[Notices]
[Pages 20552-20553]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-08774]


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DEPARTMENT OF STATE

[Public Notice: 9095]


Provision of Certain Temporary and Limited Sanctions Relief Under 
the National Defense Authorization Act for Fiscal Year 2012 in Order To 
Continue Implementing the Joint Plan of Action of November 24, 2013 
Between the P5+1 and the Islamic Republic of Iran, as Extended Through 
June 30, 2015

AGENCY: Department of State.

ACTION: Notice.

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SUMMARY: On November 24, 2013, the United States and its partners in 
the P5+1--France, the United Kingdom, Russia, China, and Germany--
reached an initial understanding with Iran, outlined in a Joint Plan of 
Action (JPOA),that halts progress on its nuclear program and rolls it 
back in key respects. In return, the P5+1 committed to provide limited, 
temporary, and targeted sanctions relief to Iran.
    The JPOA was renewed by mutual consent of the P5+1 and Iran on July 
19, 2014, and again on November 24, 2014, extending the temporary 
sanctions relief provided under the JPOA to cover the period beginning 
on November 24, 2014, and ending June 30, 2015 (the Extended JPOA 
Period), in order to continue negotiations aimed at achieving a long-
term comprehensive solution to ensure that Iran's nuclear program will 
be exclusively peaceful.
    This Notice outlines the U.S. Government (USG) actions taken to 
extend certain sanctions relief under the National Defense 
Authorization Act for Fiscal Year 2012 as part of this understanding.

DATES: Effective Date: The effective dates of these waiver actions are 
as described in the determinations set forth below.

FOR FURTHER INFORMATION CONTACT: On general issues: Paul Pavwoski, 
Office of Economic Sanctions Policy and Implementation, Department of 
State, Telephone: (202) 647-8836.

SUPPLEMENTARY INFORMATION: The U.S. government has executed temporary, 
partial waivers of certain sanctions under the National Defense 
Authorization Act for Fiscal Year 2012 (NDAA), in order to continue 
implementing the sanctions relief under the JPOA. All U.S. sanctions 
not explicitly waived or suspended pursuant to the JPOA as extended 
remain fully in force, including sanctions on transactions with 
individuals and entities on the SDN List unless otherwise specified.
    Furthermore, U.S. persons and foreign entities owned or controlled 
by U.S. persons (``U.S.-owned or -controlled foreign entities'') 
continue to be generally prohibited from conducting transactions with 
Iran, including any transactions of the types permitted pursuant to the 
JPOA as extended, unless licensed to do so by OFAC. The U.S. government 
will continue to enforce U.S. sanctions laws and regulations against 
those who engage in sanctionable activities that are not covered by the 
suspensions and temporary waivers issued pursuant to the JPOA as 
extended.
    Sanctions suspended under the NDAA are scheduled to resume on July 
1, 2015 unless further action is taken by the P5+1 and Iran and 
subsequent waivers are issued by the U.S. government. Companies 
engaging in activities covered by the temporary sanctions relief 
described in this notice should expect sanctions to apply to any 
activities that extend beyond the current end date of the Extended JPOA 
Period, June 30, 2015. The temporary suspension of sanctions applies 
only to activities that begin and end during the period January 20, 
2014 to June 30, 2015.

[[Page 20553]]

    The Secretary of State took the following actions:
    Acting under the authorities vested in me as Secretary of State, 
including through the applicable delegations of authority, I hereby 
make the following determinations and certifications:
    Pursuant to section 1245(d)(5) of the National Defense 
Authorization Act for Fiscal Year 2012, I determine that it is in the 
national security interest of the United States to waive the imposition 
of sanctions under Section 1245(d)(1) with respect to:
    (1) Foreign financial institutions under the primary jurisdiction 
of China, India, Japan, the Republic of Korea, the authorities on 
Taiwan, and Turkey, subject to the following conditions:
    a. This waiver shall apply to a financial transaction only for 
trade in goods and services between Iran and the country with primary 
jurisdiction over the foreign financial institution involved in the 
financial transaction (but shall not apply to any transaction for the 
sale, supply, or transfer to Iran of precious metals involving funds 
credited to an account described in paragraph (b));
    b. any funds owed to Iran as a result of such trade shall be 
credited to an account located in the country with primary jurisdiction 
over the foreign financial institution involved in the financial 
transaction; and
    c. with the exception that certain foreign financial institutions 
notified directly in writing by the U.S. Government may engage in 
financial transactions with the Central Bank of Iran in connection with 
the repatriation of revenues and the establishment of a financial 
channel, to the extent specifically provided for in the Joint Plan of 
Action of November 24, 2013, as extended; and
    (2) foreign financial institutions under the primary jurisdiction 
of Switzerland that are notified directly in writing by the U.S. 
Government, to the extent necessary for such foreign financial 
institutions to engage in financial transactions with the Central Bank 
of Iran: (i) Within the scope of the waiver of Sections 1245(a)(1) and 
1245(c) of the Iran Freedom and Counter-Proliferation Act of 2012 
(subtitle D of title XXI of Public Law 112-239, 22 U.S.C. 8801 et seq.) 
(IFCA) issued on November 25, 2014 and any extension of that waiver; 
and (ii) in connection with the repatriation of revenues and the 
establishment of a financial channel as specifically provided for in 
the Joint Plan of Action of November 24, 2013, as extended.
    (3) Foreign financial institutions under the primary jurisdiction 
of Oman that are notified directly in writing by the U.S. Government, 
to the extent necessary for such foreign financial institutions to 
engage in financial transactions with the Central Bank of Iran in 
connection with the repatriation of revenues and the establishment of a 
financial channel as specifically provided for in the Joint Plan of 
Action of November 24, 2013, as extended; and
    (4) Foreign financial institutions under the primary jurisdiction 
of South Africa subject to the following conditions:
    a. This waiver shall apply to a financial transaction only for 
trade in goods and services between Iran and South Africa (but shall 
not apply to any transaction for the purchase of crude oil from Iran or 
any transaction for the sale, supply, or transfer to Iran of precious 
metals involving funds credited to an account described in paragraph 
(b));
    b. any funds owed to Iran as a result of such trade shall be 
credited to an account located in South Africa; and
    c. with the exception of certain foreign financial institutions 
notified directly in writing by the U.S. government to the extent 
necessary for such financial institutions to engage in financial 
transactions with the Central Bank of Iran within the scope of the 
waiver of Sections 1245(a)(1) and 1245(c) of IFCA issued on November 
25, 2014 and any extension of that waiver.
    This waiver shall take effect upon their transmittal to Congress.

(Signed John F. Kerry, Secretary of State)

    Therefore, these sanctions have been waived as described in the 
determinations above. Relevant agencies and instrumentalities of the 
United States Government shall take all appropriate measures within 
their authority to carry out the provisions of this notice.

    Dated: April 6, 2015.
Kurt W. Tong,
Acting Assistant Secretary for Economic and Business Affairs.
[FR Doc. 2015-08774 Filed 4-15-15; 8:45 am]
BILLING CODE 4710-07-P