Sanctions Update: New Measures Target Non-U.S. Business with Iran

U.S. companies can no longer distance themselves from business conducted by their foreign subsidiaries with Iran. On August 10, 2012, President Obama signed into law the Iran Threat Reduction and Syria Human Rights Act of 2012. The Act expands existing sanctions, for example those under the Iran Sanctions Act of 1996, as amended by the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, and creates additional sanctions measures against Iran.