Search for ships currently entered in the London P&I Club by their name or I M O number Search Search for correspondents in our global network by country/area or port/city Search Sanctions – Iran – US withdrawal from the JCPOA 9 May 2018 As Members may already be aware, President Trump announced on Tuesday 8 May that the US would withdraw from the Joint Comprehensive Plan of Action (JCPOA) signed in Vienna in July 2015, that suspended certain sanctions against Iran from January 2016 (as outlined in our news alert of 18 January 2016, click here ). The exact nature and extent of the new sanctions regime that President Trump intends to impose against Iran is as yet unclear as the details are still emerging. However, William Juska of New York law firm Freehill Hogan & Mahar LLP reports that there will be two different periods in which persons/businesses must wind down business activities connected to sanctioned trade: one for 90 days until 6 August 2018, and the other for 180 days until 4 November 2018. The 90 day winding down period that expires on 6 August 2018 relates to: The purchase or acquisition of US dollar banknotes by the Government of Iran; Iran’s trade in gold or precious metals; The direct or indirect sale, supply, or transfer to or from Iran of graphite, raw, or semi-finished metals such as aluminium and steel, coal, and software for integrating industrial processes; Significant transactions related to the purchase or sale of Iranian rials, or the maintenance of significant funds or accounts outside the territory of Iran denominated in the Iranian rial; The purchase, subscription to, or facilitation of the issuance of Iranian sovereign debt; and Iran’s automotive sector. The 180 day winding period that expires on 4 November relates to: Iran’s port operators, and shipping and shipbuilding sectors, including on the Islamic Republic of Iran Shipping Lines (IRISL), South Shipping Line Iran, or their affiliates; Petroleum-related transactions with, amon