Following the U.S. decision to pull out of the Iran nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) and to reimpose sanctions, EU companies, such as carmaker Peugeot, engineering firm Siemens, and oil producers Total and BP, have begun to wind down investments and joint ventures in Iran despite the fact that European leaders have said that they will remain in the deal and find ways around the sanctions.
While this is leading to confusion and uncertainty for compliance officers, both Pekka Dare, a director with International Compliance Training (ICT), and Foundation of Defense for Democracies senior advisor Richard Goldberg agreed that trying to comply with sanctions over Iran was already a compliance nightmare.
