Over the past year, the big news for companies doing or considering business in Iran has been the scaling back of U.S. and EU economic sanctions. Many global businesses are now permitted to operate in this once prohibited market. Before we celebrate too enthusiastically, however, let’s stop for a moment to consider a potential challenge for some companies trying to capitalize on this new opportunity.
This time, we are focusing on a conundrum specific to companies that contract with the U.S. government.
U.S. Sanctions Developments. To recap, back in July 2015, the United States and its allies reached a nuclear accord (the Joint Comprehensive Plan of Action or JCPOA) with Iran, which culminated in the easing of certain restrictions on conducting business in or with Iran.
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