ILMA Compoundings - April 2020 - 17
ADDED VULNERABILITY
U.S. sanctions and secondary sanctions remain in place.
Sanctions against Iran prohibit trade with Iran, including any Iranian citizen or any business that is "owned or
controlled" by the Iranian government or an Iranian citizen
- anywhere (including inside the U.S.). U.S. secondary
sanctions prohibit other countries and non-U.S. persons
from trade with Iran under the same definitions. The combination is designed to prevent anyone from being a trade
partner with Iran or an Iranian, anywhere.
The impact of these sanctions and secondary sanctions
(functioning together) is multiplied where a U.S. person or
business is found trading with another person or business
that is itself in violation of the U.S. sanctions/secondary
sanctions combination. For example, a U.S. business (Party
A) that sells product to a European customer (Party B) must
exercise great care to evaluate the risk that the intended
customer (Party B) has not engaged with an Iranian person
or entity (Party C). Unfortunately, all parties risk substantial
penalties if U.S. sanctions or secondary sanctions are found.
The changing posture of France, Germany and the U.K.
(in particular) concerning trade with Iran has also introduced an element of confusion within the EU business
community. When the attitude has been favorable (on the
part of EU governments and regulators) toward commercial
ties with Iran, the result has opened windows of time during
which sanctioned activity has occurred. To a meaningful
extent, this has fostered elements of disdain for contrary
U.S. policy and has promoted disregard concerning U.S.
regulations against such activity.
Consequently, EU businesses have a greater likelihood to
have illicit Iranian business relationships, many of which
are ongoing despite risk of fines and penalties. Businesses
that do not employ appropriately thorough due-diligence
measures (on an ongoing basis) are increasingly likely to face
rigorous enforcement.
Eggenschwiler, an ILMA consultant, is an international
trade attorney and principal, global trade and chemical
regulations services, for the Redstone Group, a Trinity
Consultants company. He can be reached at
614-923-7472 or jeggenschwiler@redstonegrp.com.
ILMA 2020
ANNUAL MEETING
October 24-27, 2020
BOCA RATON
RESORT & CLUB
Boca Raton, Florida
SEE YOU IN BOCA!
investment by multiple enforcement agencies in this monitoring activity is significant, and the time invested in ongoing
investigative activities often spans three years or more before a
government agency initiates an enforcement action.
17
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