The status of Turkish gas imports under US “snap-back” sanctions

Source:LEXOLOGY Date:11Nov2018

As I understand it, Turkey has also automatically  recevied a temporary waiver for gas imports:


Foreign financial institutions in countries that receive significant reduction exceptions are allowed to engage in certain transactions with the CBI or other sanctioned Iranian banks, as long as: (1) the transactions involve bilateral trade only; (2) any funds owed Iran as a result of such trade are credited to an account in the significantly reducing country; and (3) no transactions occur with banks sanctioned for support for terrorism or WMD proliferation. Additionally, while the waivers apply to natural gas transactions, they do not apply to Iranian petrochemical products.