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ARTICLE · 30 JANUARY 2013

New Iran Sanctions: Breaking Down The Breaking Points

Reed Smith
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Energy, shipping, and shipbuilding. Generally, these are the sectors of the Iranian economy that have recently come within the ambit of the existing U.S. sanctions regime against Iran.

United StatesEnergy and Natural Resources
Leigh Hansson
Leigh Hansson
Carlos Aksel Valdivia
Carlos Aksel Valdivia
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Energy, shipping, and shipbuilding. Generally, these are the sectors of the Iranian economy that have recently come within the ambit of the existing U.S. sanctions regime against Iran. We write "generally" because in addition to those sectors, certain entities, transactions, and financial services will soon be subject to sanctions, as articulated in the Iran Freedom and Counter-Proliferation Act of 2012 ("IFCPA"). Moreover, certain exceptions and waivers apply to these newly enacted sanctions.

The IFCPA was entered into law when President Obama enacted the National Defense Authorization Act for Fiscal Year 2013 January 2, 2013. The Act generally requires sanctions in the following areas of activity:

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