From the American Club to its members:
AUGUST 07, 2018
CIRCULAR NO. 28/18
TO THE MEMBERS OF THE ASSOCIATION
THE UNITED STATES FORMALLY REIMPOSES SECONDARY SANCTIONS AGAINST IRAN
On May 8, 2018, President Trump withdrew the United States from participation in the JCPOA – the nuclear deal between Iran and the six nations referred to as P5+1, being the five permanent members of the UN Security Council plus Germany. In further implementation of his May 8 decision, President Trump yesterday issued an Executive Order (copy attached), formally re-imposing secondary US economic sanctions against Iran.
The May 8, 2018 withdrawal of the United States from the JCPOA was the subject of Club Circular No. 15/18of May 10, 2018. The withdrawal resulted in the prohibition of certain transactions and activities by non-US persons involving Iran as of May 8, 2018, but provided for two grace, or wind-down, periods until August 6, 2018 and November 4, 2018 for activities and transactions which were ongoing prior to May 8, 2018.
The Circular is also available on the Club’s website at: