The Impact of Reinstatement of US Secondary Sanctions on Iran's Oil and Gas Sector: Opportunities and Challenges

Document Type : ISI

Authors

1 Assistant Professor at Faculty of Law and Political Sciences, University of Tehran

2 PhD Candidate at Faculty of Law, University of Montreal

Abstract

The Reinstatement of US secondary sanctions on May 8, 2018 has led to a new legal environment with regards to the commercial activities and investment in Iran’s oil and gas sector. The economic sanctions targets non-US companies and individuals and affects all the players related to the Iranian market on an extra-territorial basis. This article looks to study the opportunities and threats Iran’s economy and oil and gas sectors are facing through comparing the economic sanctions imposed during 2010-2013 with the reinstatement of US secondary sanctions against Iran on May 8, 2018. It further provides policy advising on how to prevent and mitigate the negative impact of these reinstated secondary sanctions.

Keywords

Main Subjects

References

الف) کتاب­ها و مقالات
1. GARFIELD, RICHARD, et al. ( 1995), “The Health Impact of Economic Sanctions”, BULLETIN OF THE NEW YORK ACADEMY OF MEDICINE (1995 Winter), 72.
2. Nephew, Richard (2017),” The Art of Sanctions: A View from the Field”. Columbia University Press.
3. REISMAN, W. MICHAEL & L. STEVICK, DOUGLAS (1998), “The Applicability of International Law Standards to United Nations Economic Sanctions Programmes”, EUROPEAN JOURNAL OF INTERNATIONAL LAW, 9.
ب) ­سایت­ها
4. https://www.treasury.gov/resource-center/sanctions/Programs/Documents/jcpoa_winddown_faqs.pdf
5. http://www.firstenercastfinancial.com/news/story/46901-eu-banks-withdrawing-financing-iran-grain-finance
6. http://europa.eu/rapid/press-release_IP-18-3861_en.htm
7. https://www.total.com/en/media/news/press-releases/us-withdrawal-jcpoa-totals-position-related-south-pars-11-project-iran
8. https://www.bloomberg.com/news/articles/2018-06-15/trump-s-50-billion-china-threat-only-signals-worse-to-come
9. https://www.bloomberg.com/news/articles/2018-06-11/norway-says-u-s-is-losing-global-sway-as-trade-dispute-grows
10. https://www.reuters.com/article/us-usa-trade-china-oil-graphic/chinas-tariffs-on-u-s-oil-would-disrupt-1-billion-monthly-business-idUSKBN1JE0CD
11. https://www.reuters.com/article/switzerland-iran-bcp/swiss-bank-bcp-says-halts-all-new-business-with-iran-idUSL5N1T03C8
12. http://pulsenews.co.kr/view.php?year=2018&no=383785
13. https://www.bloomberg.com/news/articles/2018-06-15/iran-oil-exports-slide-in-early-ship-data-after-trump-sanctions
14. http://www.lefigaro.fr/conjoncture/2018/05/15/20002-20180515ARTFIG00096-iran-bruno-le-maire-va-tenter-de-rassurer-les-entreprises-francaises.php
15. https://www.theatlantic.com/international/archive/2018/05/pompeo-declares-economic-war-on-iran/560795/
 
ج) اسناد بین­المللی
16. Council Regulation (EC) No 2271/96 of 22 November 1996 protecting against the effects of the extra-territorial application of legislation adopted by a third country, and actions based thereon or resulting therefrom
17. EU Council Decision, 26th July 2010, 2010/413/CFSP
18. EU Regulation No. 961/2010, dated 25th October 2010.
19. EU Council Decision 2012/35/CFSP, dated 23 January 2012, amending Decision 2010/413/CFSP concerning restrictive measures against Iran
20. EU Regulation 267/2012 dated 23th March 2012
21. EU Council Decision 2012/35/CFSP.
22. International Emergency Economic Powers Act (IEEPA, 50 U.S.C. 1701)
23. Iran Nuclear Agreement Review Act adopted in May 2015 (“INARA”)
24. Iran Libya Sanction Act (ILSA)
25. Joint Comprehensive Plan of Action (JCPOA)
26. National Security Presidential Memorandum (NSPM)
27. Specially Designated Nationals and Blocked Persons List (SDN)
28. The National Defense Authorization Act (NDAA) of 2012
29. The Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA)
30. US Office of Foreign Assets Control (OFAC), Iran Sanctions FAQ.
 
Journal Of Researches Energy Law Studies
Volume 4, Issue 1
Spring & Summer
April 2018
Pages 37-60

Files

Share

How to cite

Statistics