Dentons (JD Supra Iran)

Iran is the second largest economy in the Middle East, despite years of international sanctions, and the market of more than 80 million people is highly consumer oriented. Demand for local and foreign products is consequently very high and the temptation to produce similar or counterfeit products (from foreign or local competitors) is very strong.

The Iranian pharmaceutical and healthcare products market has had steady growth during the last decade. There have been significant improvements in living standards in Iran, in particular adequate access to healthcare facilities in urban areas and developing access in rural regions due to government policies. These obviously have entailed a remarkable growth in the demand for consumer health...

Iran is said to be targeting an increase in oil production from 3.85 to 4 million barrels per day by the end of 2016. Iran is also hoping to start export of a new heavy oil, called West Karun, and which is expected to compete with Iraq’s Basra Heavy crude, which has gained a significant market with US and Asian refiners since its launch in 2015.

As we look forward to the release of the new model Iranian Petroleum Contract, Dentons' oil and gas partners James Dallas and Alistair Black analyse the contents of the recently released "Principles of the New Contract Model" (the Principles) and the possible implications for international oil companies (IOCs) looking to invest in this very promising jurisdiction.

On February 5, 2016, the Government of Canada announced a repeal of its most restrictive economic sanctions against Iran. The move followed the announcement by the International Atomic Energy Agency on January 16, 2016, that Iran complied with measures required under the Joint Comprehensive Plan of Action, and the subsequent relaxation of domestic sanctions by both the US and the EU. Canada’s...

The UK Foreign & Commonwealth Office recently hosted a panel discussion with UK business leaders to clarify UK trade policy on Iran following the lifting of sanctions. The principal points of note for those interested in investing in the country or doing business with Iranian counterparts are as follows...

On 14 July 2015, Iran and a group of countries comprising the USA, the UK, France, Russia, China and Germany agreed on a Joint Comprehensive Plan of Action (JCPoA) on Iran’s nuclear programme. Completion of the JCPoA should lead to the lifting of various sanctions currently in place against Iran and relating to Iranian business.