New Iranian Sanctions Legislation: Summary of Key Provisions

Sheppard Mullin Richter & Hampton LLP
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On July 1, 2010, President Obama signed the Comprehensive Iran Sanction, Accountability, and Divestment Act of 2010 (“CISADA”). CISADA expands many existing restrictions and includes many new provisions designed to reach foreign firms currently doing business with Iran. More details into the impact of this legislation will emerge as the agencies charged with implementing this legislation issue their regulations.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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