VOL. XLI

No. 21

25-May-1998

IRAN

US Waives ILSA Sanctions On European Companies - But WhatAbout US Firms?

Faced with the prospect of a damaging political and economic confrontation with itsEuropean allies, the US Administration has taken a wise decision to back off in respect ofthe imposition of sanctions on non-US companies investing in oil and gas projects in Iran.An accord under which the US will grant "national interest" waivers to EUcompanies against liability to sanctions under the US...