Farhad Alavi has appeared twice on BBC Persian this past week discussing pressing topics related to sanctions.
The first appearance on June 21 was with regards to the policy practiced by certain Apple stores to refrain from selling to individuals of Iranian descent in an effort to comply with U.S. sanctions and export control laws. Specifically, in addition to the sanctions regime, the Export Administration Regulations (EAR) prohibit the export of most goods with dual-use (i.e., military and civilian application) to countries to Iran. This can cover products like Apple’s popular iPad and iPhone. This issue was followed-up by BBC’s English website in an article which also quoted Mr. Alavi.
The second clip was broadcast this morning. This was with respect to the implementation of U.S. regulations that could lead to limitations and sanctions on the central banks and private banks of certain third countries that are involved in certain types of Iran trade, including but not limited to oil purchases through the Central Bank of Iran.These regulations arise from the Defense Authorization Act which President Obama signed on December 31, 2011.
Banks and other financial institutions around the world should exercise increasing caution and ensure that they are not exposed to these types of violating activities.