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ARTICLE · 09 FEBRUARY 2016

The Persian Conversion: New Rules For Doing Business In Iran

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On Friday, February 5, 2016, the Government of Canada made significant amendments to the Special Economic Measures (Iran) Regulations and the Regulations Implementing the United Nations Resolutions on Iran.

CanadaInternational Law
McMillan LLP
McMillan LLP
Jonathan O'Hara
Jonathan O'Hara
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Introduction

On Friday, February 5, 2016, the Government of Canada made significant amendments to the Special Economic Measures (Iran) Regulations1 and the Regulations Implementing the United Nations Resolutions on Iran,2 (collectively, the "Amendments") removing numerous barriers to trade and investment with Iran. These changes were made in response to Iran's fulfilment of its pledge to roll back its nuclear program under the Joint Comprehensive Plan of Action (JCPOA), enacted by the United Nations Security Council in July 2015.3 Sanctions that restrict Iran's access to "sensitive" goods, namely those that may contribute to nuclear proliferation and the development of ballistic missiles, remain in force.

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