FOR IMMEDIATE RELEASE ABC Dubai Contact Information Contact: Laura Goodnight Company Name: American Business Council of Dubai & the Northern Emirates Tel: 04.379.1414 Email: communications@abcdubai.com Website: www.abcdubai.com
Patton Boggs Contact Information Contact: Angie Hegazi Company Name: Patton Boggs LLP Tel: 050.989.6607 Email: ahegazi@pattonboggs.com Website: www.pattonboggs.com
American Business Council & Patton Boggs Host U.S. Economic Sanctions Seminar DUBAI – FEBRUARY 18, 2014 On Tuesday, February 18th, the American Business Council of Dubai & the Northern Emirates (ABC) in conjunction with Patton Boggs LLP hosted an economic sanctions seminar as part of its Knowledge Exchange Series. More than 60 guests gathered to hear Patton Boggs Partner, Daniel Waltz, discuss U.S. economic sanctions targeting Iran, with a particular focus on their potential impact on companies located outside the U.S. He provided a brief background on the history of U.S. sanctions, highlighting what are known as ‘secondary sanctions,’ which target Iran indirectly by threatening the imposition of sanctions against foreign companies that engage in specified categories of Iran-related transactions. Additionally, he discussed the interim agreement recently reached between the P5+1 and Iran and the sanctions relief that is available now that the agreement has been implemented. Mr. Waltz remarked: “U.S. sanctions targeting Iran have become both detailed and complex. The interim agreement reached in November between the P5+1 and Iran was implemented on January 20. Many believe that this might mark the opening of the Iranian market, but the sanctions relief it offers is actually quite limited. I am grateful to the American Business Council for providing me with this opportunity to explain this complex state of affairs.” ABOUT THE AMERICAN BUSINESS COUNCIL The American Business Council of Dubai & the Northern Emirates operates under the auspices of the Dubai Chamber of Commerce & Industry and functions as a Chapter of the U.S. Chamber of
Commerce. Since its founding in 1985, the American Business Council has supported U.S. business interests in Dubai & the Northern Emirates and acts as a liaison between government and commercial enterprises. The American Business Council is a 500 plus member-driven organization. Fortune 500 companies and key business leaders are well represented among the members of the American Business Council. The American Business Council provides a forum for understanding and interaction between the local business community and members of the American Business Council. Members are supported through a robust calendar of informational programs, round-table discussions, and business networking opportunities. For more information about the American Business Council and to learn how members are engaged, visit us at www.abcdubai.com. ABOUT PATTON BOGGS For more than 30 years, the law firm of Patton Boggs LLP has provided legal and policy advice to governments, government-owned corporations and private-sector clients requiring corporate and strategic advice throughout the MENA region. The firm combines local knowledge with extensive regional experience and proficiency in U.S. and international law and policy, offering clients practical legal guidance for operating in and from the area. Globally, Patton Boggs is a leader in public policy, litigation and business law. The firm's core practice areas are government relations and lobbying, administrative and regulatory, commercial and transactional, litigation and dispute resolution, intellectual property and international law. From offices in Washington DC, New York, New Jersey, Dallas, Denver and Anchorage, and internationally in Doha, Riyadh, Abu Dhabi and Dubai, more than 450 lawyers and professionals provide comprehensive, practical legal counsel to clients around the globe. For more information about the firm or its attorneys, visit www.pattonboggs.com. ###