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ARTICLE · 11 FEBRUARY 2016

Canada Eases Iran Sanctions And Opens Trade For Key Industrial Sectors

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The Government of Canada today announced important amendments that loosen its economic sanctions against Iran.

CanadaInternational Law
Sabrina Bandali
Sabrina Bandali
Jessica Horwitz
Jessica Horwitz
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The Government of Canada today announced important amendments that loosen its economic sanctions against Iran. The amendments follow on the successful implementation of the Joint Comprehensive Plan of Action on January 16 by the P5+1 and Iran. (See Implementation Day for the P5+1 Iran Nuclear Agreement: What It Means for Canadian and International Businesses for more details.) The amendments will create market openings for key industrial sectors in Canada, including oil and gas services, exploration and production, aerospace, engineering and construction, automotive parts and technology, and financial services.

Canada first introduced targeted sanctions against Iran in July 2010 in response to Iran's nuclear proliferation activities. The targeted sanctions were subsequently expanded on several occasions until May 2013, when they were further amended to encompass almost all trade in goods with Iran.

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