Iranian Desk | Iranian-Danish legal matters

Following Implementation Day on 16 January 2016, the economic and financial sanctions against Iran have been eased. The EU has adopted two regulations (2015/1861 and 2015/1862), which contain easing of the sanctions. This makes it possible for Danish businesses to enter into the second largest economy in the Middle East. The IBRD (the International Bank for Reconstruction and Development) predicts that Iran’s GNP will increase by 6.7% in 2017. Prior to the easing of the sanctions, Iran’s GNP placed the country as the 18th largest economy in the world. Morgan Stanley has stated that “Iran is the biggest thing for the global economy since the Berlin Wall fell”. From the conclusion of the agreement on Iran’s nuclear programme in July 2015 and until Implementation Day on 16 January 2016, more than 50 trade delegations have visited Iran.

Together with the Danish Foreign Minister, Kristian Jensen, and 62 Danish companies, DANDERS & MORE participated in the official trade delegation to Teheran on 4th and 5th January 2016.

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The 10 most significant areas against which the sanctions are eased are: 

  • Reopening of export of Iranian oil and gas to the EU.
  • Western companies can supply equipment to Iran’s oil and gas fields.
  • Western insurance companies are again allowed to insure Iranian oil shipments.
  • The general ban against business with the Iranian energy sector is lifted.
  • Iranian banks will again be connected to the international money transfer system, SWIFT.
  • Foreign banks can issue loans, which are to contribute to financing trade with Iran.
  • According to Deutsche Presse-Agentur, Iran will be granted access to at least USD 100 billion oil revenues, which have been frozen abroad. However, Reuters has stated that it is USD 50 billion of the total USD 100 billion.
  • The sanctions against Iranian companies and hundreds of individuals linked to the nuclear programme are lifted.
  • Boeing and Airbus are allowed to sell planes and aircraft components to the civil aviation industry in Iran.
  • Western car manufacturers can export to Iran again. 

What can DANDERS & MORE offer?

DANDERS & MORE has thorough knowledge of Iranian culture and business and has a large professional network in Iran, which will be able to assist Danish companies when establishing in Iran, concluding cooperation and distribution agreements with Iranian partners or exporting products to Iran.

Our Iranian Desk can offer a full package of legal and non-legal services, including advice on the Iranian market, and on governmental and cultural issues etc. As one of very few law firms, DANDERS & MORE has an Iranian-born Danish attorney-at-law, who speaks the language and has large know-how of the country. Moreover, in Teheran we cooperate with some of Iran’s best and most experienced law firms.
 
We also assist Iranian companies with business activities in Denmark, the UK and Switzerland.   
 
Our Iranian Desk provides all aspects of Danish and Iranian law in both Farsi, Danish and English.
 
Good possibilities for cooperation between Iran and Denmark
 
Iran has a very large business focus on industries such as building and construction, energy, biotech, agriculture and foods, as well as retail. Danish companies have great know-how of and expertise within these industries and therefore we predict good business opportunities in Iran for Danish companies.    

Would you like to know more about our Iranian Desk?

If you would like more information on our Iranian Desk or information as to how we can assist your company, please contact attorney-at-law and partner Pedram Moghaddam, or attorney-at-law and managing partner Philip Nyholm.