comprehensive iran sanctions accountability and divestment act of 2010 pdf

Comprehensive iran sanctions accountability and divestment act of 2010 pdf

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The Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010 (CISADA)

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CISADA expands significantly the energy-related activities that are sanctionable and adds new types of sanctions that can be imposed. The United States is resolved to make full use of ISA and the other authorities in CISADA as additional tools in our efforts to convince the Iranian Government to change its strategic calculus, comply with its full range of nuclear obligations, and engage in constructive negotiations on the future of its nuclear program. Activities that can trigger sanctions include:.

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CISADA expands significantly the energy-related activities that are sanctionable and adds new types of sanctions that can be imposed. The United States is resolved to make full use of ISA and the other authorities in CISADA as additional tools in our efforts to convince the Iranian Government to change its strategic calculus, comply with its full range of nuclear obligations, and engage in constructive negotiations on the future of its nuclear program.

Activities that can trigger sanctions include:. Sanction Provisions Three or more out of nine possible sanctions shall be imposed on any person determined to have engaged in sanctionable activities. The nine sanctions would prohibit:. Waivers ISA does provide for certain waivers. These waivers may be applied on a case-by-case basis with respect to a sanctionable person depending on the facts and U.

The President may waive sanctions for either energy or weapons-related activity if the President determines it is "necessary to the national interest.

The Act mandates the imposition of significant new sanctions with respect to foreign financial institutions. The Act builds upon and gives effect to the U. Waiver Provisions The Secretary of the Treasury may waive the application of the financial sector provisions noted above on or following 30 days after the Secretary determines that such a waiver is necessary to the national interest of the United States and submits a report describing the reasons to the appropriate congressional committees.

Human Rights The President must submit to Congress a list of Iranian officials or those acting on behalf of the Government of Iran who are responsible for, or complicit in, committing serious human rights abuses against Iranian citizens or their family members on or after June 12, Those persons are subject to a visa ban for travel to the United States and economic sanctions, including the blocking of their property subject to U.

This provision will apply to USG contracts for which solicitations are issued after the effective date of new regulations which must be issued within 90 days after July 1, , or by September 29, The President may waive this requirement on a case-by-case basis. Diversion Concerns CISADA also requires the President to designate a country as a "Destination of Diversion Concern" if he determines that the government of the country allows substantial diversion to Iranian end users or intermediaries of certain goods, services, or technology.

If a country is named a "Destination of Diversion Concern," a U. The President may waive the licensing requirement if he determines that a waiver is in the national interest.

Procurement Ban for Exporters of Certain Sensitive Technology Persons that export to Iran sensitive technology that the President determines is to be used specifically to restrict the free flow of unbiased information in Iran or disrupt, monitor, or otherwise restrict speech of the people of Iran are barred from USG procurement contracts.

There is waiver authority, as well as an exemption authority with respect to certain countries or instrumentalities designated under the Trade Agreements Act of Search Input. Jump to In This Section. Fact Sheet. Bureau of Economic, Energy and Business Affairs.

Treasury must issue regulations within 90 days to prohibit or impose strict conditions upon U. Treasury must also issue regulations within 90 days to prohibit any entity owned or controlled by a U. Other sanctions-related measures in CISADA Human Rights The President must submit to Congress a list of Iranian officials or those acting on behalf of the Government of Iran who are responsible for, or complicit in, committing serious human rights abuses against Iranian citizens or their family members on or after June 12, You are entering the Archive for the U.

Department of State. If you are looking for current information, visit www.

The Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010 (CISADA)

Be sure to leave feedback using the 'Feedback' button on the bottom right of each page! The Public Inspection page on FederalRegister. The Public Inspection page may also include documents scheduled for later issues, at the request of the issuing agency. The President of the United States manages the operations of the Executive branch of Government through Executive orders. The President of the United States communicates information on holidays, commemorations, special observances, trade, and policy through Proclamations. The President of the United States issues other types of documents, including but not limited to; memoranda, notices, determinations, letters, messages, and orders.

Download file as PDF. His focus, as part of the State Department, is on the energy sector, as opposed to the finance sector, which falls within the remit of the US Treasury. Some of the guests preferred to remain anonymous while others were happy to disclose their identities and exchanged details with the US Government officials. Mr Delare stressed from the outset that the US Government wants to engage constructively with the international business community on the implementation of Iran Sanctions and that he expected that the feedback from a meeting such as this would be very helpful to them in understanding the concerns of business people. He also mentioned the fact that he is an economist by training rather than a lawyer and will need to refer certain issues to the State Department lawyers.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy. As discussed below, non-U. Taken together, these provisions have the potential to represent the most significant extraterritorial expansion of U. Because U.

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In case of emergency, Members and Correspondents are encouraged to contact the Claims Team direct whenever possible. President Obama signed the Bill on 1 July CISADA covers a significantly broader range of areas than the ISA that makes it of particular interest to companies with, or considering business activities related to, Iran.

Congress that applies further sanctions on the government of Iran. This increased pressure is part of the larger campaign over the Iranian nuclear program , and aims to target Iranian dependence on imports for its gasoline needs. Despite the reliance on foreign suppliers, the Gas Rationing Plan did lead to a decline in imports. The idea of reducing Iranian gasoline imports as a means of pressuring Iran was examined during the administration of President George W. Bush but ultimately not taken up.

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At their meeting on 12th July , the Directors considered the implications for the Association of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of , which was enacted in the United States on 1st July.

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In its broad extraterritorial application, the Act provides strong disincentives to firms that provide energy-related services, insurance and reinsurance services, and shipping services to Iran. It targets not just the firms themselves, but also their corporate officers and principals by restricting their access to the United States and permitting the imposition of other sanctions against them in their individual capacities. Companies should monitor ongoing implementation of the new legislation, review its potential impact, and establish effective due diligence and compliance programs that address their conduct in the United States and abroad. This legislative action targeting Iran complements increasingly strong executive action. It also authorized sanctions against those who provide material support to major entities in the Iranian energy sector or the Central Bank of Iran for the purchase or acquisition of US bank notes or precious metals by the Government of Iran. The Executive Order was accompanied by the Treasury Department imposition of sanctions under CISADA against two banks—including Bank of Kunlun in China—found to have facilitated significant transactions or providing significant financial services to previously designated Iranian banks. Previously, US firms were not liable under US sanctions law with respect to Iran-related transactions of their foreign subsidiaries if neither the US firm itself nor any individual who was a US person was involved in such transactions.

First, I have approved a new Executive order that imposes new sanctions against the Iranian energy and petrochemical sectors. This action is designed to deter Iran from establishing payment mechanisms for the purchase of Iranian oil to circumvent existing sanctions and utilizes the existing structure of our sanctions law, including exceptions for significant reductions in the purchase of Iranian oil. Additionally, existing sanctions on Iran's petrochemical industry are expanded by making sanctionable the purchase or acquisition of Iranian petrochemical products. Sanctions are also authorized for those who may seek to avoid the impact of these sanctions, including against individuals and entities that provide material support to the National Iranian Oil Company, Naftiran Intertrade Company, or the Central Bank of Iran or for the purchase or acquisition of U. Second, we have also taken a significant step to hold responsible institutions that knowingly enable financial transactions for designated Iranian banks. Bank of Kunlun and Elaf Islamic Bank have facilitated transactions worth millions of dollars on behalf of Iranian banks that are subject to sanctions for their links to Iran's illicit proliferation activities.

Nevertheless licence holders are encouraged to take them in consideration when conducting their business activities. It is understood that under CISADA, the US Treasury may require US banks to request specified non-US banks for whom they maintain correspondent accounts, to certify whether they maintain correspondent accounts in any currency with Iranian-linked financial institutions designated by OFAC or whether they have processed fund transfers in any currency related to any financial institution or any person or entity designated by OFAC, even if such fund transfers do not involve US correspondent accounts.

2011 Report to the Congress: Comprehensive Iran Sanctions Accountability and Divestment Act of 2010

Fact Sheet: Comprehensive Iran Sanctions, Accountability, and Divestment Act (CISADA)

 - Внезапно Беккер понял, что говорит чересчур громко. Люди на соседних койках приподнялись и внимательно наблюдали за происходящим. В дальнем конце палаты появилась медсестра и быстро направилась к. - Хоть что-нибудь, - настаивал Беккер. - Немец называл эту женщину… Беккер слегка потряс Клушара за плечи, стараясь не дать ему провалиться в забытье. Глаза канадца на мгновение блеснули.

Бринкерхофф читал, не веря своим глазам.

3 comments

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    COMPREHENSIVE IRAN SANCTIONS,. ACCOUNTABILITY, AND DIVESTMENT ACT. OF VerDate Nov 24 Jul 08, Jkt.

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