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All tagged legal risk
◢ Ireland’s Workplace Relations Commission has fined an unnamed bank EUR 20,000 for discrimination against an Iranian couple. The ruling points to a growing case precedent in Europe on acts of sanctions over-compliance which lead to discrimination of Iranian persons or individuals and businesses who maintain financial links to Iran.
◢ With the United States looking set to withdraw from the Iran nuclear deal, the question now becomes how that withdrawal will take place. The European Union and Iran will face complex decisions about legal and diplomatic responses. Even though U.S. policy will be come more clear in the aftermath of May 12, the overall uncertainty facing businesses is likely set to increase.
◢ The filing of a complaint against Italian telecommunications firm Italtel under the OECD Guidelines for Multinational Enterprises for its business activities in Iran is a warning about the scrutiny and politicized climate surrounding investment in the Islamic Republic. But companies can navigate these claims succesfully if they remain committed to responsible business and proactive monitoring.
◢ Managing risk is a key part of an Iran market entry strategy.
◢ There are four major categories of risk to consider: commercial, legal, political, and reputational.
