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U.S. Further Eases Financial Sanctions on Iran
(Wall Street Journal) Jay Solomon - The U.S. Treasury Department on Friday released new guidelines for dealings with Iran that loosen restrictions on the country's ability to trade in U.S. dollars. Treasury also widened the potential business partners for non-American investors in Iran by announcing that U.S.-sanctioned Iranian entities can partake in projects provided they aren't the controlling shareholder. The U.S. maintains sanctions on Iran's Islamic Revolutionary Guard Corps, which is the dominant player in the Iranian economy. The Treasury has long dissuaded foreign companies from conducting any business with the IRGC. But the new measures indicate the Obama administration will now accept some Revolutionary Guard presence in international projects.