56029
US Easing Medical, Agro Exports to Iran
US Easing Medical, Agro Exports to Iran
  1. Economy
  2. Domestic Economy

US Easing Medical, Agro Exports to Iran

  1. Economy
  2. Domestic Economy

US Easing Medical, Agro Exports to Iran

The US Treasury Department unveiled new regulations on Dec. 22, which make it easier for pharmaceutical, medical device and agricultural sectors to more easily sell their products in the 80-million-strong Iranian market.
In a first, the Office of Foreign Assets Control is also allowing relevant companies to send Americans to Iran to help with their operation and maintenance.
“In response to feedback from the regulated public regarding improving patient safety,” the regulation states, “OFAC is … expanding existing general licenses to authorize the provision of training for the safe and effective use or operation of agricultural commodities, medicine and medical devices.”
With that move, says Tyler Cullis of the pro-engagement National Iranian American Council, the Obama administration is “breaking a taboo”.
“It’s a pretty big deal moving forward,” Cullis told Al-Monitor.
The administration had previously given a green light to US companies that make civilian aircraft and parts to also provide Iran with “associated services” when it implemented the nuclear deal in January. But that language was included in a hypothetical statement of licensing policy rather than an actual license.
Contact between US citizens and Iranians for purposes such as academic cooperation had also been allowed previously.
The Treasury Department finally authorized Boeing and Airbus to go ahead with aircraft sales in September. Those licenses are presumed to cover services such as pilot training, maintenance and repairs, but they have not been made public.
The Dec. 22 regulations, in contrast, spell out US exporters’ new rights in black and white for all to see. In addition to the training component, it expands the scope of medical devices that can be exported to Iran and approves more agricultural commodities, such as shrimp and shrimp eggs.
“It allows Iran to reach the full benefit of the medical devices that OFAC, up until this point, has allowed to be exported there,” said Erich Ferrari, a sanctions lawyer who represents medical device makers’ interests before OFAC.
“A lot of these devices are more complicated and there’s just a dearth of non-US personnel available to provide that type of training.”
Ferrari predicted that the Trump administration would have little incentive to overturn the Dec. 22 regulations.

Short URL : https://goo.gl/jT7PXT
  1. https://goo.gl/ojpBPj
  • https://goo.gl/IJd4dZ
  • https://goo.gl/V992k1
  • https://goo.gl/RUkbtO
  • https://goo.gl/pT4APN

You can also read ...

How Russia Doubled Non-Energy Exports to Iran in 2016
With all the expectations that Russian businesses had about Iran...
Bumper Growth for  Energy Insurance
Insurance industry’s total premium income during the nine months...
A 10.85-quadrillion-rial ($280.6 billion) budget bill was proposed by President Hassan Rouhani early December.
Iran’s budget deficit for the three quarters of the current...
Peugeot’s Opel/Vauxhall buyout could go beyond €2 billion.
PSA Group’s announcement this week that they are looking to...
Tejarat Bank Eying UAE, China
Tejarat Bank is looking to the UAE and China as the next target...
TEDPIX nosedived by 1.28% and landed at a three-month low of 78,249.1 on January 24.
The stock market was quite eventful during the Iranian month of...
Mayan offers heavy and medium duty trucks.
Mitsubishi’s FUSO Truck and Bus Corporation is set to expand its...
India’s Rice Export Recovery Awaits Iranian Orders
Delay in resumption of imports by Iran is likely to hinder the...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.
Googleplus