Brendan Hanifin, government enforcement counsel in Ropes & Gray’s Chicago office, is quoted in The Wall Street Journal’s Morning Risk Report regarding the uncertainty surrounding U.S. sanctions on Iran following President Trump’s decision not to re-certify Iran’s compliance with the JCPOA nuclear agreement.
The president’s threats to withdraw from the agreement “creates considerable uncertainty” for any company seeking to do business with Iran, Mr. Hanifin told the Journal. The announcement is a reminder that foreign subsidiaries of U.S. firms “cannot become complacent” regarding their dealings with Iran, he said, noting that the U.S. Treasury Department has shown it is willing to aggressively enforce existing sanctions. “Uncertainty surrounding the Iran sanctions…continues to present significant headaches for prospective U.S. investors in non-U.S. companies that conduct business with Iran,” he said.
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