The international law firm “A.N.D.O. Sherman” wrote in an analysis that even if the United States, within the framework of the memorandum of understanding with the Islamic Republic, reduces part of its sanctions, international companies will still face a complex and multi-layered sanctions environment, because sanctions imposed by the European Union, Britain, and some other Western countries remain in place. “A.N.D.O. Sherman” added that companies operating in Europe, Britain, or other U.S. partner countries should not regard any possible easing of U.S. sanctions as authorization to operate in Iran. According to this report, the risk of sanctions returning, banking and financial restrictions, anti-money-laundering and anti-corruption requirements, and the lack of transparency regarding the ownership of many Iranian companies will continue to be the main obstacles to trade and investment in Iran.