Post-Sanctions Iran Open for Business, But with Limitations

While U.S. firms are expected to proceed with caution since the Obama administration has not lifted its sanctions against Iran, U.K.-based firms are likely to make inroads. But London-based International Trade partner Matthew Oresman says they can expect fierce competition.

“A lot of English firms will look to go to Iran. Law firms—like banks and audit practices—go where their clients are,” he said. “But we may see some very keen Chinese and Indian law firms competing aggressively with them, as they tend to have a higher risk tolerance.”

But potential roadblocks persist: There may be Iranian restrictions on commercial property leases for foreign lawyers, and U.S. sanctions on certain companies that conduct business with Iran remain in place. Additionally, the U.N. could reinstate sanctions if Iran is involved in any terror funding, nuclear weapons development or human rights violations.

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