The United States on Thursday granted a license to allow for certain humanitarian trade transactions with Iran’s sanctioned central bank, a move it said was in step with the formalization of a Swiss humanitarian trade channel.
The newly created channel, which the US Treasury Department said became fully operational on Thursday as it granted the license, would allow for companies to send food, medicine and other critical supplies to Iran.
"“The Swiss Humanitarian Trade Arrangement will help ensure that humanitarian goods continue to reach the Iranian people without diversion by the regime," Treasury Secretary Steven Mnuchin said in a statement.
Last week, US Special Representative for Iran Brian Hook said there was a lot of interest from food and drug companies in using the Swiss Humanitarian Trade Arrangement, which began trial operations last month with shipments of medicine.
The SHTA seeks to ensure that Swiss-based exporters and trading companies in the food, pharmaceutical and medical sectors have a secure payment channel with a Swiss bank, through which payments for their exports to Iran are guaranteed.
Food, medicine and other humanitarian supplies are exempt from the sanctions Washington reimposed on Tehran after President Donald Trump walked away from a 2015 international deal over Iran's nuclear program.
But the US measures, targeting everything from oil sales to shipping and financial activities, have deterred several foreign banks from doing business with the Islamic Republic - including humanitarian deals.
Politically neutral Switzerland has been working with US and Iranian authorities and selected Swiss banks and Swiss companies on the plan.

US grants sanctions waiver to send food, medicine to Iran via Swiss channel

Politically neutral Switzerland has been working with US and Iranian authorities and selected Swiss banks and Swiss companies on the plan for certain humanitarian trade transactions. (File photo)
Reuters, Washington
Friday 28 February 2020
Last Update: Wednesday, 20 May 2020 KSA 10:05 - GMT 07:05
DAY | WEEK |
-
7224 Views Full moon to align directly above Kaaba in Mecca on Jan. 28
-
6785 Views Coronavirus: Dubai restaurants offer discounts for vaccinated diners
-
4142 Views Coronavirus: Dubai’s new restrictions disappoint hospitals; entertainers struggle on
-
1938 Views US will help Saudi Arabia defend against attacks on its territory: State Department
-
1524 Views More than 250,000 foreign workers exit Saudi labor market within 3 months
-
1109 Views Britain, France and Germany ‘strongly condemn’ air attack on Saudi Arabia
-
23069 Views Coronavirus: Dubai temporarily postpones Pfizer vaccine campaign amid global shortage
-
10968 Views Coronavirus: Dubai orders hospitals to cancel surgeries amid surge in COVID-19 cases
-
8888 Views The American University of Beirut’s battle for survival
-
8282 Views Coronavirus: Dubai suspends live entertainment permits as COVID-19 cases surge
-
8021 Views Coronavirus: Dubai's latest COVID-19 rules for weddings, restaurants, gyms, concerts
-
7224 Views Full moon to align directly above Kaaba in Mecca on Jan. 28
SHOW MORE