Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

EU works to protect firms that invest in Iran from sanction consequences

Neil Hodge | August 17, 2018

The European Union has taken steps to protect EU companies from any legal and financial repercussions from investing in Iran as a result of President Trump’s latest sanctions.

On 7 August the European Union put in place a “blocking statute” with immediate effect to nullify any potential U.S. legal action against European firms in connection with their investments in Iran after the United States re-imposed key sanctions on the Middle-Eastern country on the same day.

The latest sanctions will prevent the Iranian government from buying U.S. dollars, gold, software used in industrial processes, and from trading metals and minerals. A further set of sanctions blocking petroleum exports, shipping, and financial institutions from conducting transactions with the Central Bank of Iran will take effect in November.

To date, ...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.