As controversy continues to spread over the proposed U.S.-Iran nuclear deal unveiled, much about its future impact on the global economy remains unknown. The 150-page Joint Comprehensive Plan of Action (JCPOA) is complex on many levels; but one message is important to note: primary U.S.-invoked sanctions of the past will remain intact at least in the near term.
The proposed deal only impacts nuclear-related secondary sanctions, which generally apply to non-U.S. persons, explained Lizbeth Rodriguez-Johnson, Esq., attorney for Holland & Hart LLP. For individuals and businesses in the United States, along with their subsidiaries, the projected sanctions relief will not affect the current restrictions on conducting business with Iran.
“The sanctions relief will not result in the opening of the Iranian credit markets to U.S. companies or the Iranian market, in general, to U.S. persons,” said Rodriguez-Johnson, who spoke on the topic as an instructor at NACM’s Graduate School of Credit & Financial Management International in June.
- Jennifer Lehman, NACM marketing and communication associate
For the extended version of this story, featuring more analysis, check out this week's edition of NACM eNews, which is released every Thursday late afternoon and available via email or at www.nacm.org.