All tagged legal risk

Over-Compliance on Iran Sanctions Can Lead to Discrimination

◢ 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.

First OECD Complaint Filed Against a European Company for its Activities in Iran

◢ 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.