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Focus on Regulation

Tag Archives: OFAC sanctions on Iran

Extension of Iran sanctions update

On Friday, 18 July, the P5+1 countries (China, France, Germany, the Russian Federation, the United Kingdom, and the United States), supported by the European Union, agreed with Iran to extend the Joint Plan of Action (JPOA) that suspended some economic sanctions against Iran as part of the overall talks regarding Iran’s nuclear related activities. The JPOA originally

Expanded Iran Sanctions Now Apply to Foreign Subsidiaries of U.S. Companies

 On 9 October 2012, the President issued Executive Order 13628 implementing certain provisions of the Iran Threat Reduction and Syria Human Rights Act of 2012.  Among other things, the Executive Order effectively prohibits non-U.S. entities that are owned or controlled by U.S. persons (including foreign subsidiaries of U.S. companies) from knowingly taking virtually any action