Jonathan Poling Quoted in Law360 on Iran Nuclear Deal
Jonathan Poling, a partner in Akin Gump’s international trade practice, was quoted by Law360 in the article “As Iran Deal Looms, EU Sanctions Relief Could Outpace US,” which addresses the framework of a deal to lift trade sanctions against Iran in exchange for concessions on its nuclear program.
Among the questions being asked following the announcement of an agreement, is whether and to what extent the United States and European Union will coordinate their efforts to remove sanctions against Tehran. There is, according to the article, the potential for a divergence between the two.
Poling said the existence of an extraterritorial sanctions law, which bars U.S.-based and overseas subsidiaries of U.S. parents from commercial dealings with Iran, could create difficulties for U.S. multinational companies. It might, he said, “create a really interesting dynamic where you might have a foreign subsidiary of a U.S. company in the EU that could be allowed to enter Iran under EU law, but would be prohibited under U.S. law.”