Business Insights on Cuba and Iran

Alexandre Lamy, a senior associate in Baker & McKenzie’s International-Commercial practice based in Washington, DC, will speak at Doing Business Globally in the Track I session on Global Markets in Houston and Dallas.

Here, he shares insights on doing business in Cuba and Iran, which he will discuss in-depth at Doing Business Globally.

Washington_Lamy_Alexandre_29895“Since January 2015, there have been significant changes to the US embargo of Cuba.  US-based companies (except those focused solely on tourism) are able to engage in market research in Cuba about potential business, even though they still may not be permitted to enter the Cuban market under the recent changes.  Companies in the travel, telecommunications, and banking sectors as well as exporters to the Cuban private sector can engage in a wide range of activities in Cuba, albeit subject to various conditions and restrictions.  More significant changes to the US embargo will require congressional action.

For Iran, many sanctions are set to be lifted when the nuclear agreement is implemented in 2016, which will primarily benefit non-US companies. For the most part, Iran will remain off-limits for US companies, although their non-US subsidiaries may be able to engage in certain Iran-related business.”