WorldECR Quotes Jasper Helder on Post-JCPOA Trade with Iran

May 17, 2018

Reading Time : 1 min

Contact:

Jacinta O'Shea-Ramdeholl

Director of Communications

Sarah Richmond

Senior Communications Manager

Jasper Helder, international trade partner at Akin Gump, was quoted in WorldECR’s “Iran: is a better deal in the cards?” The article examines what may follow President Trump’s decision to withdraw from the Joint Comprehensive Plan of Action (JCPOA), the landmark nuclear deal with Iran that was signed during the Obama administration.

The article reports that all nuclear-related sanctions lifted under the JCPOA will be re-imposed and any entity continuing to trade with Iran after a brief wind-down period will, Mr. Trump has stated, face “severe consequences.” Questions remain, however, as to how sanctions against non-U.S. companies active in Iran will be implemented, given that other countries remain committed to the deal.

Since most global trade, including shipping, is conducted in dollars, Helder said, “It will be difficult in many sectors to conduct business without direct or indirect involvement of U.S. banks which are, of course, subject to U.S. law and sanctions.” He continued by noting that prior to the nuclear deal, “we saw a similar pattern with regard to European business with Iran. To this day, for the same reasons, it remains difficult, in Iran business, for fear of exposing the U.S. operations of such banks.”

Share This Insight

People Mentioned in This News

Related Services, Sectors, and Regions

© 2024 Akin Gump Strauss Hauer & Feld LLP. All rights reserved. Attorney advertising. This document is distributed for informational use only; it does not constitute legal advice and should not be used as such. Prior results do not guarantee a similar outcome. Akin is the practicing name of Akin Gump LLP, a New York limited liability partnership authorized and regulated by the Solicitors Regulation Authority under number 267321. A list of the partners is available for inspection at Eighth Floor, Ten Bishops Square, London E1 6EG. For more information about Akin Gump LLP, Akin Gump Strauss Hauer & Feld LLP and other associated entities under which the Akin Gump network operates worldwide, please see our Legal Notices page.