Publication of Iran-related Frequently Asked Questions and General License J-1

OFAC updated the Frequently Asked Questions Relating to the Lifting of Certain U.S. Sanctions Under the Joint Comprehensive Plan of Action, amending two FAQs regarding the re-imposition of sanctions in the event of a sanctions snapback under the JCPOA (M.4 and M.5) to provide additional clarity.  In addition, OFAC issued General License J-1, “Authorizing the Reexportation of Certain Civil Aircraft to Iran on Temporary Sojourn and Related Transactions,” which amends GL J to allow the temporary reexport of Eligible Aircraft that involve code sharing arrangements, subject to the conditions in GL J-1.  Effective December 15, 2016, GL J-1 replaces and supersedes in its entirety GL J.