In June, I wrote about the conflicting advice on sanctions and specifically on dealing with Iran.
A couple of months later, the international community will surely have sorted that out.
Not exactly. Federica Mogherini, the EU’s high representative for foreign affairs, said Brussels would not let the 2015 agreement with Tehran die, and she urged European firms to make their own investment decisions and continue to work with Iran. She said this only hours after President Trump had tweeted;
“The Iran sanctions have officially been cast. These are the most biting sanctions ever imposed, and in November they ratchet up to yet another level. Anyone doing business with Iran will NOT be doing business with the United States. I am asking for WORLD PEACE, nothing less!”
So, how would European firms react to this conflicting advice?
Well, the very same day, Daimler announced that it would be discontinuing its very limited activity in Iran.
Hardly surprising really. Who would risk being excluded from the US?
Sanctions legislation and advice can be complicated. Getting it wrong can be catastrophic. Worried how you stand? Give Lime a call and we can talk it through.