EU Launches Online Tools to Help SMEs Trade With Iran
The European Commission launched two online systems to help small and medium-sized companies trade with Iran. The European Union's Due Diligence Helpdesk and Sanctions Tool offer free support for companies doing “legitimate trade” with Iran, the commission said Oct. 6.…
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The help desk will carry out due diligence checks to determine whether “specific business projects comply with EU sanctions,” the commission said, while the sanctions tool provides companies with “non-binding guidance on whether their business projects could fall under EU sanctions concerning Iran.” Josep Borrell, the EU’s foreign policy chief, said the tools are meant to help “strengthen and facilitate legitimate trade between Iran and the EU.” The U.S. recently invoked snapback sanctions against Iran and criticized EU members for not supporting an arms embargo against the country (see 2009210022).