Source: The Wall Street Journal
As the U.S. encourages aircraft companies to seek licenses for exports to Iran, those companies face potential diversions of their product to the military and engagement with companies still under sanctions, exposing themselves to significant compliance risks, experts say.
Those risks, in the months since the Iran nuclear deal was implemented in January, have already come into stark relief: U.S. agencies have denied export privileges in one case, and imposed new sanctions designations in another.
The U.S. Department of Treasury’s Office of Foreign Assets Control issued a “statement of licensing policy” in January for the sale of civilian aircraft, and spare parts, allowed under the deal. The statement authorizes companies to seek a specific license for the sales, so long as they’re exclusively for civilian use. It “establishes a favorable licensing policy” for such sales, the statement said.