Additional Iran sanctions legislation

Additional Iran sanctions legislation

Congress is working on new Iran sanctions legislation that would further target the activities of non-U.S. companies with Iran, even when the activity has no U.S. 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-U.S. companies doing business with Iran (please see our prior client alerts regarding the Iran Freedom and Counter-Proliferation Act and Executive Order 13645). H.R. 850 has been referred to the Senate Committee on Banking, Housing, and Urban Affairs (Committee) for consideration. Click here to read more.

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