Additional Iran sanctions legislation
Congress is working on new Iran sanctions legislation that would further target the activities of non-US companies with Iran, even when the activity has no US nexus. Specifically, the House of Representatives already passed H.R. 850, the Nuclear Iran Prevention Act of 2013, by a vote of 400–20 on 31 July 2013, which would impose new sanctions on non-US companies doing business with Iran. H.R. 850 has been referred to the Senate Committee on Banking, Housing, and Urban Affairs for consideration.
This new legislation would primarily impact non-US companies (even those with no US operations or any other US nexus) because it would expand the types of sanctionable activities that could expose foreign companies to the imposition of restrictive measures under US law. Certain measures cut across all industry sectors. Federal contractors would be adversely affected because the legislation would require a broader certification regarding Iran-related activities of any affiliates globally and not just the activities of the US contracting entity or its subsidiaries…
If you are registered and logged in to the site, click on the link below to read the rest of the Hogan Lovells briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Hogan Lovells
News from The Lawyer
Briefings from Hogan Lovells
The decision of the US Court of Appeals has raised questions about how issuers should present their disclosures on conflict minerals under Exchange Act Rule 13p-1 and Form SD.
An interesting judgment was delivered by the Honourable J Majiki on 19 November 2013 in the Eastern Cape High Court, Port Elizabeth.
Analysis from The Lawyer
As international firms question their future in these small, closely linked markets, local lawyers too are eyeing the business environment with caution
Beyond the headline infrastructure projects, UK construction work is still recovering from the clobbering it took during the slump