The successful delivery of the 1st, 2nd and 3rd Europe-Iran Forums in October 2014, September 2015, and May 2016 respectively, serves as a proof of concept for the compliance of the conference model. Despite the achievement of Implementation Day, a significant program of US and EU sanctions persist. This compliant Iran business conference is dedicated to the open exchange of information derived from the personal experiences of expert speakers. The event organisers, Adam Smith Conferences and Bourse & Bazaar, take sanctions regulations seriously and have pursued all reasonable measures to ensure an environment of compliance for sponsors, speakers, and attendees. This includes the consultation of legal counsel in the United States and Europe and communication with the relevant authorities.
The US Treasury Office of Foreign Asset Control (OFAC) regulations that govern this event are reproduced below and include the following sections of the Iran Transactions and Sanctions Regulations (ITSR):
Do the US sanctions against Iran permit US persons to attend this conference?
Yes, conference attendance does not implicate any US sanctions prohibitions.
Do the US sanctions permit US persons to exchange information about economic conditions and the business environment in Iran while attending the conference, without negotiating a business deal or assisting non-US persons to negotiate or complete business deals in Iran?
Yes, the US sanctions exempt the exchange of information and views about economic trends and conditions in Iran.
Do the US sanctions permit US persons to discuss specific business deals in Iran while attending this conference?
No, not unless the deal fits within a license or authorization issued by OFAC or is expressly contingent on an OFAC license or authorization, and will not proceed without OFAC authorizing it to proceed and permitting US persons to participate.