Money laundering reporting officers (MLROs) would be wise to maintain the status quo on Iranian transactions despite the proposed partial lifting of some sanctions against the country following historic talks at the weekend, according to lawyers. Under the deal hatched in Geneva limits were placed on Iran's nuclear programme in exchange for the relaxing of some sanctions against the state. The deal is expected to unlock some $7 billion in oil revenue from the country. Officials from the U.S., the UK, China, France, Germany, and Russia pledged to not impose any new nuclear-related sanctions on Iran for six months and suspended existing sanctions on gold and precious metals. There is also an indication that some $400m worth of Iranian investments would be released to help pay tuition fees for Iranian students abroad. Despite the easing of sanctions, widespread restrictions remain in place for the time being. This includes sanctions against Iranian banks and secondary sanctions imposed
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