Earlier this month, President Obama signed into law the Iran Threat Reduction and Syria Human Rights Act of 2012. From law firm Skadden Arps: “The Act is the U.S. government’s latest response to Iran’s illegal nuclear program and the situation in Syria, and it reflects an intensified effort to counter perceived efforts by non-U.S. companies… Read more »
Law firm Dechert has produced a useful overview of the ever-expanding EU sanctions against Iran, Syria, and Belarus and their implications for US companies: “It is a common mistake for businesses to believe that if you are based in the US or compliant with US OFAC provisions, then EU sanctions do not apply to you.… Read more »
Seven international updates caught our eye today. For your reference: Russia Accedes to OECD Anti-Bribery Convention (Dinsmore & Shohl) “The law defines foreign government official to include any appointed or elected official who has a position in any legislative, executive, administrative, or judicial branch of a foreign country or an individual who serves any public… Read more »
Increasingly appalled by the Syrian regime’s brutality and continued repression, European Union leaders announced earlier this week a new round of sanctions against the government. The new measures target the Central Bank of Syria, the country’s gold, diamonds, and precious metals trade, and Syrian cargo flights in and out of Europe. From law firm White… Read more »
This just in from law firm White & Case: - EU tightens Iran Sanctions with embargo on Iranian oil and petrochemicals… …plus new sanctions on precious metals, diamonds and key equipment & technology for the petrochemical sector - New persons and entities added to EU Syria sanctions list (including 5 banks and 3 petroleum companies)… Read more »
White & Case’s overview of recently enacted EU sanctions against Syria: On 1 December 2011, the Council of the European Union (EU) considerably expanded its existing regime for economic sanctions against Syria when it adopted Council Decision 2011/782/CFSP which introduces or strengthens sanctions applicable to telecoms, oil & gas, electric power plants and the financial… Read more »
