Iran Sanctions – Austrian Companies

“Our position on Iran remains the same since the implementation of the JCPOA. According to sections 4.1-4.7 of Annex II and 17.1-17.2 of Annex V, this states that non-U.S. persons are allowed to undertake banking, financial and commercial transactions with Iran. Under the provisions of the JCPOA, primary sanctions against U.S. persons and companies remain in place, which means that companies wishing to engage in business with Iran must be aware which entities they are dealing with in their transactions, so as not to unwittingly engage with a sanctioned entity or comply a U.S. company to do so. The U.S. Department of Treasury has set out clear guidance regarding the legality of business transactions with Iran.”