US-IRAN SANCTIONS: WHAT SHOULD NON-US BUSINESSES DO NOW?

Out-Law provided a briefing on 30th May saying that as we approach 4th August, when US secondary sanctions begin to be reactivated, businesses with connections to Iran should be carefully considering their next steps.  It says that, in the face of such uncertainty, non-US businesses should start planning their exit from Iran – or, if committed to Iranian businesses notwithstanding the risk of US enforcement, establishing if they will be able to proceed on a legal and practical level.  It says that businesses should begin by asking themselves several questions which the article details.

https://www.out-law.com/en/articles/2018/may/us-iran-sanctions-non-us-businesses/

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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