Blog Post 07.01.26
“A real dream team of professional legal advisors ... Very highly skilled and make an effort to understand their clients’ needs.”
Iris Karaman advises clients on all aspects of international trade and investment law and is a recommended lawyer in The Legal 500 UK for Trade, WTO Anti-Dumping, Customs and Sanctions.
Iris helps clients understand and comply with complex EU and UK sanctions, export controls, foreign direct investment (FDI) screening, customs and carbon-related import taxes, supply chain due diligence, and AML and anti-bribery and corruption compliance. She guides clients through successfully obtaining strategic export control and sanctions licenses, as well as FDI screening and national security clearance. She also represents clients before government institutions and enforcement bodies including, among others, the European Commission, Office of Financial Sanctions Implementation (OFSI), His Majesty’s Revenue and Customs (HMRC), Export Control Joint Unit, Investment Security Unit and U.S. Department of Justice. Iris has experience advising companies across different sectors including banking and financial institutions, technology, aviation, shipping and defense.
Representative Experience
- Advised multiple U.S. and other companies on UK government and Ministry of Defence contracting readiness, including trade compliance, security clearance requirements, supply chain considerations and engagement strategies for operating in sensitive and regulated sectors.
- Advised several consumer goods companies on customs classification and valuation matters, including assessing potential customs liabilities, advising on customs authorities’ classification and valuation challenges and representation before customs authorities.
- Advised various airlines, aircraft manufacturers and lessors on trade compliance related to Russia, Iran, Venezuela and other high-risk jurisdictions.
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- Advised multiple unmanned aircraft system and counter-drone companies on trade compliance, including foreign defense sales, licensing, classification, brokering and enforcement matters.
- Represented a private equity fund focused on national security and cybersecurity in its acquisition of a global cybersecurity company with operations in over 15 countries by a Singapore state-owned entity. Our work included advising on CFIUS and foreign direct investment (FDI) regulations, coordinating FDI filings in the UK, Canada, Australia, and New Zealand, and providing guidance on the transfer of a subsidiary’s facility security clearance.
- Advised an American multinational energy corporation with all aspects of licensing and compliance and engaging with OFAC and the State Department in connection with the modified wind down of operations under the current general license. Our advice is in light of the company being the only U.S. company permitted to continue operations in Venezuela with its joint venture partner PDVSA.
- Counseling the largest Cypriot bank on an ongoing basis regarding UK, U.S. and EU sanctions, AML compliance matters, and the interplay with rules in other jurisdictions. Our advice supports the bank’s critical role at the frontline of sanctions compliance involving Russia, Ukraine, the Middle East and beyond.
- Advised multiple clients on all aspects of compliance with EU and UK international sanctions regimes (including against Russia and Belarus) and export controls.
- Advised and representing clients in voluntary disclosures and investigations before UK and EU export control, sanctions and customs authorities, as well as the U.S. Department of Justice and Office of Foreign Assets Control.
- Advised various clients on obtaining foreign direct investment review clearance in the UK and EU member states, including in relation to acquisitions in the defense, cybersecurity, data processing, pharmaceutical and data center industries.
- Guided clients in the oil and gas, nuclear, aerospace, technology and financial services sectors through successfully obtaining strategic UK and EU sanctions and export control licenses.
- Conducted global risk assessments on trade compliance and advising on the implementation of compliance uplift programs for companies in the oil and gas, nuclear, technology, mining, metals and technology sectors.
Professional Highlights
- Recommended Lawyer in The Legal 500 UK for Trade (2026) for EU and competition: trade, WTO anti-dumping, customs and sanctions
- Member of the Chartered Institute of Export & International Trade
- Member of the Association of Certified Sanctions Specialists
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- Prior to joining Pillsbury, Iris was an international trade and investment associate in the London office of a global law firm. Iris also worked on international trade law matters at the United Nations and other inter-governmental organizations, and provided ongoing advice to the UK government on the negotiation of free trade agreements.
Education
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Legal Practice Course, BPP Law School, 2018
With distinctionGraduate Diploma in Law, BPP Law School, 2017
With distinctionM.Phil., Development Studies (Economics), University of Cambridge, 2016
With distinctionB.A., Politics, Philosophy and Economics, University of Warwick, 2015
With first class honours
Admissions
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England and Wales
Languages
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French