BOP advises client on Entrance and Expansion into the Iranian Market
On January 16, 2016, the European Union and the United States of America lifted economic and financial sanctions against Iran. On that date, on the so-called Implementation Day, as defined in the Vienna Agreement, comprehensive sanction relief for the benefit of the Islamic Republic of Iran went into effect. This opened the door to the restart of the commerce and trade relationship between Europe and Iran.
Our client develops, plans and builds solar power plants and is one of the leading photovoltaic system providers in Germany. With the opening up of this new market, our client would like to take advantage of the opportunities associated with the improvement in commerce and trade and to that effect is in the process of planning its entrance into the Iranian market.
BRANDHOFF OBERMÜLLER PARTNER will provide the client with advice and counsel on all legal issues associated with the expansion into the Iranian market. These also include compliance with EU and US sanctions that are still in effect, Anti Money Laundering and Terrorist Financing regulations and other associated punishable offences, as well as meeting Export-Compliance-Regulations and other regulatory obligations. In this process, the influence that the planned expansion into the Iranian market may have, particularly possible detrimental effects on our client’s US business, its parent company and other group companies, must be taken into consideration.
The firm is also providing advice to the client on the conclusion of a cooperation agreement for the development of Photovoltaic projects with a project developer. Our client will construct the photovoltaic plants and conclude Power Purchase Agreements with Iranian companies and institutions, such as the Renewable Energy Organization of Iran (SUNA) and the Iran Power Generation and Transmission Company (TAVANIR).
If you have any questions pertaining to commerce and trade relationships with Iran please contact Attorney Stephan A. Richter, Attorney Ali Fazli or Attorney Dr. Jochen Brandhoff, Kaiserstraße 53, D-60329 Frankfurt, info(@)bop.legal, www.bop.legal, Tel: +49 (0)69 34 87 92 00.