Client Alert
| June 25, 2010
Congress Enacts Significant New Iran Sanctions Legislation
On June 24, 2010, the U.S. Senate (by a vote of 99-0) and the U.S. House of Representatives (by a vote of 408-8) adopted new Iran sanctions legislation (the “Comprehensive Iran Sanctions Accountability and Divestment Act of 2010”) that broadens and intensifies U.S. sanctions policy against Iran. President Obama is expected to sign the measure into law soon.
The legislation greatly expands the circumstances in which the President is generally required to impose sanctions against non-U.S. companies for engaging in specified types of business in, or relating to, Iran. It also restricts the President's latitude to forego sanctions in the face of actionable conduct by foreign companies.
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