Sanctions relief under the Joint Comprehensive Plan of Action (JCPOA) took effect in January 2016. In order to expedite trade and investment interaction with Iran, on 19 May 2016, the EU, France, Germany, the United Kingdom and the United States issued a joint statement seeking to encourage trade and investment with Iran. This was primarily done to try to alleviate concerns about sanctions exposure that financial institutions and corporates may still have.
The text of the statement can be accessed here. It notes that "there are now extensive economic opportunities for companies and financial institutions in Europe and around the world to do business in Iran" and that firms are encouraged "to approach our governments to address remaining questions, rather than forgo opportunities due to misperceptions or lack of information".
Ashurst's Iran Group comprises Farsi speaking partners and senior lawyers who advise on opportunities in Iran, and sanctions experts, who provide up-to-date sanctions compliance guidance. We would welcome the opportunity to discuss opportunities in Iran.
