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Feb 08, 2012

US and EU Amplify Sanctions Pressure on Iran While US Senate Committees Propose Legislation Requiring Companies to Disclose Their Iranian Business Dealings

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New US sanctions against Iran come amidst the imposition of collaborative international pressure on Iran via an EU Iranian oil embargo designed to suppress Iran’s nuclear ambitions. Executive Order 13599, effective February 6, 2012, implements new US sanctions targeting Iran’s financial sector that were authorized by Section 1245 of the National Defense Authorization Act (“Sec. 1245”). Two pending bills also are being considered by the US Senate that would, among other things, force certain firms to disclose whether they have engaged in business with Iran. Some form of these bills will likely be enacted soon.

View full memo, "US and EU Amplify Sanctions Pressure on Iran While US Senate Committees Propose Legislation Requiring Companies to Disclose Their Iranian Business Dealings"

Authors and Contributors

Stephen Fishbein

Partner

Litigation

+1 212 848 4424

+1 212 848 4424

New York

Philip Urofsky

Partner

Litigation

+1 202 508 8060

+1 202 508 8060

Washington DC

Bradley K. Sabel

Of Counsel

Financial Institutions Advisory & Financial Regulatory

+1 212 848 8410

+1 212 848 8410

New York

Danforth Newcomb

Of Counsel

Litigation

+1 212 848 4184

+1 212 848 4184

New York