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29 January 2016 Insight

It's time to take a fresh look at Iran

The easing of sanctions has opened up real opportunities in Iran, but businesses must do their homework

With sanctions against Iran eased, there are real opportunities for those operating in Europe or elsewhere, outside the US; and British businesses can expect a warm welcome.

As a starting point, firms are advised to read carefully the information note published by the European Union, the guidance issued by the US Treasury Department and the advice published by the British government.

They must also do thorough due diligence and take legal advice before entering the Iranian market. And it’s important to remember that the EU still has some significant sanctions in place on Iran – and the reach of US sanctions, which remain very broad, continue to be a factor even in Europe.

In this first edition of new CBI podcast International Business Monthly CBI international director Simon Moore, principal economist Alpesh Paleja and Roger Matthews, senior director at global law firm Dechert, reflect on what the changes to EU and US sanctions on the Iran mean for British business.