Ever-Tightening US Sanctions Cast Shadow of Doubt Over Iran Trade
New sanctions bills against Iran are being passed by the U.S. House of Representatives and bring tighter rules to ship owners and marine insurers. The restrictions seek to prevent significant transactions with Iranian companies in the energy, shipping, port and shipbuilding sectors.
"Based on recent guidance, it is clear that the US government isn't trying to cut off all foreign persons from engaging in any trade with Iran for exempt trade in unsanctioned commercial cargo, but nevertheless the broad sanctions make it even more difficult and dangerous as a risk-management policy to engage in such trade," said International Trade Partner Jonathan Epstein.
READ: Ever-Tightening US Sanctions Cast Shadow of Doubt Over Iran Trade (subscription is required)