Economic sanctions against Iran
As recently demonstrated, local and international companies in the Middle East must be compliant with several jurisdictions at the same time and keep abreast of legislative changes from the United Nations (UN), the European Union (EU) and the US that affect Iran and other sanctioned countries. The ultimate defence in protecting yourself from the possibility of infringing any of the existing sanctions remains preventive action.
As a matter of fact, abstaining from dealing with blacklisted entities, ensuring that self-regulation is diligent and thorough, and actively ensuring the validity of a client or transaction in line with applicable trade sanction laws will best enable companies to comply with these far-reaching economic sanctions.
Enhanced due diligence is the key, as highlighted by the recent advisory issued by the US Treasury’s Office of Foreign Assets Control (OFAC) in January 2013…
If you are registered and logged in to the site, click on the link below to read the rest of the Al Tamimi & Company briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Al Tamimi & Company
Briefings from Al Tamimi & Company
Corruption has a detrimental effect on any economy. It creates unfair advantages, anti-competitive practices and a generally unfavorable business environment.
The Libya Herald reported on 16 April 2013 that ‘the IMF confirmed its forecasts on Libya of 20.2 per cent GDP growth in real terms for 2013’.