Without carrying out effective due diligence checks, EU SMEs would find it difficult to meet the stringent requirements of financial institutions, including of EU banks. Financial institutions are unwilling to provide credit to business projects if they identify any risk of non-compliance with EU sanctions. Due diligence checks are therefore crucial for EU SME planning to conduct business in Iran.
The Due Diligence Helpdesk on EU Sanctions provides free-of-charge due diligence checks on EU sanctions compliance for specific business projects. This allows EU SMEs to correctly assess whether their initiatives in Iran are in accordance with EU law. Moreover, they can use the due diligence compliance reports to reassure financial institutions of the legitimacy of their business projects, enabling them to obtain funding and carry transactions.