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.

Iran just the beginning of sanctions compliance debacle

Paul Hodgson | June 11, 2018

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.

“Over the last few years, even with the JCPOA, there has still not been a stampede of European companies getting into Iran,” said Dare. “You have three...

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.