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Iran

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EU Companies Dealing With Iran: Your Frequent Questions Answered by the Due Diligence Helpdesk

March 19, 2021

ACSS asked the EU Due Diligence Helpdesk to answer questions on this new initiative. Below are their answers.

Disclaimer: The answers, views and opinions expressed in this article are those of the EU Due Diligence HelpDesk and do not reflect the policy or position of ACSS. Please get the advice of an attorney before engaging in transactions or business dealings that may involve sanctioned jurisdictions. (more…)

The Biden Administration and Reopening Talks with Iran – What’s in Store?

March 15, 2021
By: Robert L. Williams III CAMS, Consultant*

The Joint Comprehensive Plan of Action, or ‘JCPOA’, was signed on July 14, 2015 with Iran and what is known as the P5+1 (China France, Germany, Russia, the United Kingdom, and the United States), during the Obama Administration. The plan was for Iran to agree to eliminate its stockpile of medium-enriched uranium, cut its stockpile of low-enriched uranium by 98%, and reduce by about two-thirds the number of its gas centrifuges for 13 years. (more…)

COVID-19, Humanitarian Aid, and Sanctions Compliance

May 18, 2020
By: Natasha Bright, Content Writer, ACSS

There has long been debate over the heavy-handed use of economic sanctions and whether the ends truly justify the means. In the midst of a global pandemic, however, that question has become truly salient as countries like Iran and Venezuela have increased need for humanitarian aid. Organizations like the United Nations have come out in favor of easing sanctions, while others have vehemently opposed any relief, particularly regarding Iran. (more…)

The First Successful INSTEX Transaction Sends Medical Goods To Iran

April 10, 2020
By: Anna Sayre, Director of Content, ACSS

On March 31, 2020, France, Germany, and the U.K. confirmed concluding their first INSTEX transaction between the E.U. and Iran, by successfully exporting medical goods to the Middle Eastern country. Though the types of goods allowed under the trade mechanism remain limited, this transaction marks a significant step in allowing E.U member states to continue trade with Iran despite the re-imposition of U.S. sanctions. (more…)

The Blocking Statute – Deciphering its Provisions, How to Handle the EU/US Conflict, and Actions to Date

March 31, 2020
By: Jack Walsh, Content Writer, ACSS

A 2018 annex to the E.U. Blocking Statutehas created a formidable compliance dilemma for European companies that wish to cease business operations in Iran. Enacted to mitigate the effect of reinstated U.S. sanctions on Iran, the amended statute penalizes any E.U. companies that acquiesce to U.S. demands, placing companies in a seemingly untenable position. The challenge for compliance officers will be to navigate these contradictory demands in a world where two of the biggest players in the sanctions arena do not agree. (more…)

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