Iran Carpets Sanctions

Industry hit by sanctions and economic crisis.

Iran carpets sanctions.

After the lifting of. The united states sanctions against iran were imposed in november 1979 after a group of radical students seized the american embassy in tehran and took the people inside hostage the sanctions were imposed by executive order 12170 which included freezing about 8 1 billion in iranian assets including bank deposits gold and other properties and a trade embargo. The importation into the united states of iranian origin carpets and foodstuffs and certain related financial transactions pursuant to general licenses under the iranian transactions and. Iran s persian carpet industry fears having the rug pulled from under it by u s.

The iran deal known as the joint comprehensive plan of action jcpoa was an agreement reached between the p5 1 countries and iran over its nuclear program. Face creams and carpets among products affected the us is re imposing sanctions lifted on iran as part of the 2015 nuclear deal. Pursuant to this directive once the first wind down period ends on 6 august 2018 the government of the united states will revoke several jcpoa related authorizations regarding sanctions on iran namely. Obama s sanctions of iran.

Now any company doing business with tehran could. President barack obama has been strident with iranian sanctions. The rug industry is the country s second largest exporter but is now struggling. The us is re imposing sanctions lifted on iran as part of the 2015 nuclear deal.

In exchange for some sanctions relief iran has agreed to curb some of its nuclear related programs. News business business analysis features iran s tragic carpets. Exports have shrunk by 33 percent since 2009 according to iran s state news. He banned some imports of iranian foodstuffs and carpets in 2010 and congress also allowed him to tighten iranian sanctions with the comprehensive iran sanctions accountability and divestment act cisada.

Face creams and carpets among products affected. Sanctions last year nearly 100 million worth of persian carpets were exported to the u s. The iran deal was implemented in january 2016.