Clyde & Co lawyers are reminding the shipping industry that
sanctions against Iran are still firmly in place, and not all will
be lifted once the Joint Comprehensive Plan of Action (JCPOA) is
implemented
"Banks have been dropping customers who have business
ties with Iran."
The worlds of commerce and shipping are eagerly awaiting the
implementation of the JCPOA agreement between Iran and the
"P5+1"
- the five permanent members of the
United Nations (UN) Security Council of China, France, Russia, the
UK and US, plus Germany
- sometime in the first quarter of next
year.
Iran is being touted as the last great frontier market, a
country that has a large, young, well-educated and upwardly mobile
population but at the same time needs investment totalling in
excess of $200bn in its oil-and-gas, power, mining and
infrastructure sectors, along with huge volumes of modern gadgets
needed to satisfy pentup consumer demand.
