In July 2015, the Joint Comprehensive Plan of Action ("JCPOA") was agreed by the United States of America ("US"), European Union ("EU"), United Kingdom, France, Germany, Russia, China, and Iran.
It was implemented on 16 January 2016, after the International Atomic Energy Agency verified Iran had satisfied a number of obligations concerning nuclear disengagement. Given this recent development towards re-engagement with Iran, this article briefly identifies which sanctions have been lifted, discusses the common types of business entities through which a foreign company might do business in Iran (beyond the 'fly in, fly out' model) and explores some related legal and practical considerations.
James co-authored this article while working at another international law firm.