Sanctions Are Eased; Iran Sees Little Relief
By RICK GLADSTONE, NYT
APRIL 13, 2014
Halfway through a six-month nuclear deal between Iran and major world powers that was meant to allow time to reach a comprehensive agreement, the Iranians have seen little in the way of a boost from the sanctions relief they had been expecting, trade lawyers and diplomatic analysts say.
Whether Iran’s disappointment means that it will be more or less motivated to negotiate a permanent deal on its disputed nuclear program by the July 20 deadline remains unclear.
“Iran has become kryptonite for banks and shippers and insurance companies,” said Farhad R. Alavi, a sanctions law specialist at Akrivis, a Washington-based international law firm that has fielded numerous inquiries about doing business with Iran since the temporary accord took effect. Though the accord may have served as a “teaser” to Iran, he said in a telephone interview, foreign business interest has remained extremely limited.
“Is a bank in Germany going to revamp its compliance policies when the law could be changed and reverted in six months?” he said. “I think what we’ve seen is that it’s not created that breakthrough. Nobody is making that substantial step for increased economic ties between Iran and the rest of the world.”
(More here.)
APRIL 13, 2014
Halfway through a six-month nuclear deal between Iran and major world powers that was meant to allow time to reach a comprehensive agreement, the Iranians have seen little in the way of a boost from the sanctions relief they had been expecting, trade lawyers and diplomatic analysts say.
Whether Iran’s disappointment means that it will be more or less motivated to negotiate a permanent deal on its disputed nuclear program by the July 20 deadline remains unclear.
“Iran has become kryptonite for banks and shippers and insurance companies,” said Farhad R. Alavi, a sanctions law specialist at Akrivis, a Washington-based international law firm that has fielded numerous inquiries about doing business with Iran since the temporary accord took effect. Though the accord may have served as a “teaser” to Iran, he said in a telephone interview, foreign business interest has remained extremely limited.
“Is a bank in Germany going to revamp its compliance policies when the law could be changed and reverted in six months?” he said. “I think what we’ve seen is that it’s not created that breakthrough. Nobody is making that substantial step for increased economic ties between Iran and the rest of the world.”
(More here.)
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