US further expands sanctions against Iran
On 10 August 2012, President Barack Obama signed into law the Iran Threat Reduction and Syria Human Rights Act of 2012. While the Act contains a section imposing sanctions in response to human rights abuses committed against Syrian citizens, its primary focus is on strengthening and expanding an already extensive US sanctions programme against Iran. This Commentary highlights three key areas where the Act has substantially altered the landscape of US sanctions related to Iran.
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For the past 10 months, the US Department of Justice and the Enforcement Division of the Securities and Exchange Commission have advised the public that they are in the process of drafting guidance for companies regarding the requirements of, and prohibitions within, the US Foreign Corrupt Practices Act.