Introduction

This is an update to our March shipping briefing.

Our March briefing discussed the impact of U.S. legislation then under discussion to strengthen and widen the impact of sanctions against Iran. This legislation is now known as the Comprehensive Iran Sanctions, Accountability and Divestment Act 2010 (the "Act"). The Act was signed by President Obama yesterday, 1 July and has therefore now come into force.

Before discussing the Act and its impact it is also important to note that this is not the only development in this area, as set out in the Reed Smith June alert on United Nations, U.S. and EU sanctions against Iran.

Please see full alert below for more information.