In spite of recent escalations between the US and Iran,
market participants have confirmed that very little has changed
for them – for now.
There has been increased concern that the US and Iran are on
the brink of a new regional conflict, following the
US’ assassination of senior commander Qasem
Soleimani in Iran on January 3. However, lawyers have told IFLR
that existing sanctions on Iran are already affecting deals in
"There are very broad prohibitions on US persons being able
to do many things in Iran, financial or non-financial," said
New York-based Shearman and Sterling counsel Danforth Newcomb.
"There are licences but these can burdensome, and regulators
are certainly not enthusiastic about issuing them."
Newcomb added that regardless of the financial product, US
regulators are generally not sympathetic to Iranian business
licences. While there are some specific exceptions such as
family remittances, these are limited and not...