American Business Council of Dubai & the Northern Emirates (ABC) in conjunction with Patton Boggs LLP hosted an economic sanctions seminar as part of its Knowledge Exchange Series.
More than 60 guests gathered to hear Patton Boggs Partner, Daniel Waltz, discuss U.S. economic sanctions targeting Iran, with a particular focus on their potential impact on companies located outside the U.S. He provided a brief background on the history of U.S. sanctions, highlighting what are known as ‘secondary sanctions,’ which target Iran indirectly by threatening the imposition of sanctions against foreign companies that engage in specified categories of Iran-related transactions.
Additionally, he discussed the interim agreement recently reached between the P5+1 and Iran and the sanctions relief that is available now that the agreement has been implemented.
Mr. Waltz remarked: “U.S. sanctions targeting Iran have become both detailed and complex. The interim agreement reached in November between the P5+1 and Iran was implemented on January 20. Many believe that this might mark the opening of the Iranian market, but the sanctions relief it offers is actually quite limited. I am grateful to the American Business Council for providing me with this opportunity to explain this complex state of affairs.”
For more information:
American Business Council of Dubai & the Northern Emirates
Patton Boggs LLP