The U.S. recently reimposed sweeping sanctions against Iran over the objection of the UE and various European governments. In response, the EU issued a new “blocking statute” to counter these sanctions and provide some level of relief to European companies. However, European companies are now caught in the crossfire as this patchwork has created a host of complex options and processes for those who are still involved in Iranian-related transactions, even indirectly or unintentionally. European companies are very much caught between a rock and a hard place.

For European companies “the rock” is the very real possibility of being sanctioned themselves or incurring other penalties for breaching U.S. sanctions. The U.S. has confirmed that it intends to make life difficult for anybody doing business in Iran.