This post was written by Matthew J. Thomas.
US and EU sanctions continue to escalate on Iran and Syria, catching an ever-broadening group of global targets, as detailed in this latest update. While the EU continues to add dozen of names to its lists of blocked parties, the US today began imposing secondary sanctions on non-Iranian companies that allegedly have provided investment and assistance to Iran's refined petroleum sector.
For everyone out there contracting with the State of California -- here is a quick heads up. Remember way back in 2010 when Congress passed the Comprehensive Iran Sanctions, Accountability, and Divestment Act? Well, it turns out that California has decided to take advantage of the Divestment part. The Iran Contracting Act of 2010 requires the state to create a list of "persons" who "invest" in Iran. If a person makes it onto the list, they are prohibited from contracting or renewing a contract with California state and local governments. Contractors are encouraged to be on the lookout for communication from California indicating that the state plans on listing them. After all, the only evidence needed to list a person is "credible information available to the public."
For more of the fine print, exceptions, and defenses check out this Reed Smith Client Alert.
This post was written by Anne Borkovic.
After months of intense global negotiations, and facing increased sanctions from the United States, the EU, and the United Nations, what is life like in Iran? As expected, Iranians are experiencing increased gas prices, and the Iranian Revolutionary Guard is having some financing difficulties. Some of the more interesting effects, though, are the ban on mullets and fatwa against puppies.
In July, Iran’s Ministry of Culture and Islamic Guidance announced a ban on certain “decadent Western” hair styles for men, including the mullet. The full catalog of acceptable styles was presented at the Modesty and Veil Festival. Some interesting concessions were made – including allowing a modest amount of hair gel and a goatee – but mullets, pony tails, and elaborate spikes are out.
This past week, the Ministry announced a ban on advertising that promotes pets, pet care, and pet food in response to a June fatwa against pets from Ayatollah Shirazi, because pet owners were “blindly imitating the West.” He explained that “Many people in the West love their dogs more than their wives and children,” and that the devotion to pets would result in “evil outcomes.”
While it is unclear whether the ban on mullets and puppy food advertising will change Iran’s stance regarding nuclear power, we are interested to see what the Ministry will do in response to the June announcement from prayer leader Hojjat ol-eslam Kazem Sediqi that "Many women who do not dress modestly lead young men astray and spread adultery in society which increases earthquakes.”
This post was written by Leigh Hansson and Michael Grant.
On July 1, 2010, President Barack Obama, preceded by Congressional voting signaling overwhelming support, signed into law the Comprehensive Iran Sanctions Accountability and Divestment Act ("Act"). The Act is an effort by the United States to hinder what appears to be Iran's intent to develop nuclear weapons. Action by the United States comes at a time when several countries are modifying their sanction policies in response to Iran's actions. In recent weeks, the United Nations, the European Union, and the United Kingdom, among others, have all enacted resolutions or sanctions directed at Iran. While many elements of the Act must be implemented by regulations, and are therefore unknown at this time, this article summarizes the major changes that are now known.
To view the entire alert, please click here.
This post was written by Paul Skeet, Dan Gallagher, and Leigh Hansson.
Introduction:
This post was written by Leigh Hansson, Michael Lowell, Michael Grant, and Anne Borkovic.
The United States Congress is currently considering legislation that would increase the scope and application of the U.S. sanctions against Iran: The Comprehensive Iran Sanctions, Accountability and Divestment Act of 2009 (S. 2799) and the Iran Refined Petroleum Sanctions Act of 2009 (H.R. 2194). These changes could significantly impact the ability of non-U.S. companies to do business with both Iran and the United States. This article summarizes the proposals under consideration and highlights key provisions that could affect the international operations of European companies.
To view the entire alert, please click here.
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