Western governments statement on Iran sanctions

The US, EU, UK, France, and Germany have published a joint statement post the JCPOA in January. The statement says:

  • there are now extensive economic opportunities for companies and financial institutions in Europe and around the world to do business in Iran, the interest of European and other global firms in Iran is high;
  • these countries “will not stand in the way of permitted business activity with Iran” as long as they follow all applicable laws, and they “encourage firms to approach our governments to address remaining questions, rather than forgo opportunities due to misperceptions or lack of information”;
  • the EU and its Member States are exploring possible areas of cooperation with Iran, including the use of export credits to facilitate trade, project financing, and investment in Iran;
  • “the due diligence required for sanctions compliance is by no means unique to business opportunities in Iran”; and
  • for Iran to realize the economic improvement it desires, it will also have to take steps to create an environment conducive to international investment, particularly regarding the compliance with FATF recommendations.
This entry was posted in Iran by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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