Client Alert: Iran Sanctions 2.0: Are You Ready?

In early May, President Trump withdrew the United States from the “Iran Deal,” a/k/a the Joint Comprehensive Plan of Action (“JCPOA”). Foreign companies, including those wholly owned by a U.S. parent, involved in Iran’s petroleum and petrochemical sectors are now on alert. They have three to six months to wind up their affairs before the U.S. resumes enforcing its primary and secondary sanctions pertaining to those industries.