January 16, 2016

U.S. lifts ban on foreign units of American companies operating in Iran

By Peter Harrell

Source: Reuters

The United States will allow foreign subsidiaries of American companies to trade with Iran as part of sanctions relief granted under an international nuclear deal, the U.S. Treasury Department said on Saturday.

The move will give U.S. companies the chance of gaining a toehold in Iran. With a large population and ample energy resources, the country is expected to create tens of billions of dollars worth of business for local and foreign companies as sanctions are lifted.

U.S. citizens and companies are otherwise banned from trading with Iran, with few exceptions, by American sanctions that will remain in place even after the nuclear deal.

Read the full article in Reuters (Fiscal Times).

  • Peter Harrell

    Adjunct Senior Fellow, Energy, Economics and Security Program

    Peter Harrell is an adjunct senior fellow at the Center for a New American Security, where he focuses on the intersection of economics and national security. Research interest...