Iran Sanctions - Legislative Developments
05 June 2014Sanctions Alert
The U.S. House of Representatives recently passed legislation authorizing funding for the U.S. Department of Defense (DOD). Included in this legislation is a provision (the Provision) that would require the DOD to submit an annual report to Congress listing all of its contractors and subcontractors that are engaged in significant transactions with Iran. This Provision is the latest variant in U.S. provisions requiring foreign companies to report their transactions with Iran. The fate of this Provision is still uncertain, but has a reasonable possibility of being enacted.
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