On Friday, August 10, 2012, President Obama signed into law Public Law No. 112-158—the "Iran Threat Reduction and Syria Human Rights Act of 2012" (the "Act"). The 56 page statute substantially expands the already broad sanctions, which could be imposed against foreign entities doing business with Iran, that are included in the Iran Sanctions Act (ISA), the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA), the National Defense Authorization Act of 2012, and in a number of Presidential Executive Orders issued in the last year. It also provides for sanctions against persons engaging in activities related to human rights abuses in Iran and Syria.
Following is an overview of key provisions of the new far-reaching legislation that are the most likely to impact businesses:
As is evident from the above descriptions, the new legislation covers a wide variety of Iran-related activities that could result in the imposition of crippling sanctions against those engaging in such activities. The above summary provides general information in connection therewith. A careful and detailed review is required to address the impact of the new legislation, as well as of prior legislative/administrative restrictions, on any specific set of facts.
For further information on the material presented in this Alert, please contact Melvin S. Schwechter (
Authorship Credit: Melvin S. Schwechter
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