In this Jan. 19, 2012 photo, fishing boats are seen in front of oil tankers on the Persian Gulf waters, south of the Strait of Hormuz, offshore the town of Ras Al Khaimah in United Arab Emirates. (AP Photo/Kamran Jebreili)
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Within hours of the announcement of an Iran nuclear deal early Tuesday, lawyers around Washington were fielding calls from U.S. corporate clients eager to know what the 159-page deal would mean for their business prospects.U.S. companies face losing out to foreign competitors in Iran as they wait for signs that Tuesday's historic nuclear agreement is sticking and that U.S. lawmakers are willing to loosen long-standing restrictions on trade and investment, according to corporate lawyers and company executives.U.S. firms will now be allowed to sell or lease commercial passenger aircraft to Iran, as long as they procure licenses from the U.S. government, giving companies such as Boeing an opportunity.The deal also allows the U.S. government to license foreign subsidiaries of U.S. companies to operate in Iran, a move that was banned by Congress in 2012 .U.S. oil giants Chevron Corp. and ConocoPhillips both stressed that they act in full compliance with U.S. law, and ConocoPhillips stated it is not engaged in business discussions with Iran.
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