A former US negotiator doesnt believe European companies should shun doing business with the Islamic Republic. Just do your due diligence and maintain records,says Richard Nephew
United States government representatives are advising European businesses to do their homework before dipping their fingers into post-nuclear deal Iran. According to University of California Los Angeles scholar Kevan Harris and former deputy industry minister Mohsen Safai Farahani, more than half of Iran’s economy is run by pseudo-private entities linked to “parastatal organisations”, and including the Islamic Revolutionary Guard Corps (IRGC),which remains subject to both European Union and United States sanctions.
So how best can a foreign investor avoid being fined by the US government for dealing with IRGC front companies? “Check up on what you can check up on, maintain your records, or be able to develop your case,” Richard Nephew, the former lead US sanctions negotiator in the Iran nuclear talks, and told Tehran Bureau in Berlin final month. Continue reading...
Source: theguardian.com