Iran Sanctions definition

Iran Sanctions shall have the meaning ascribed to such term in Section 3.1(pp).

Iran Sanctions. Comprehensive country-based sanctions program that prohibits most dealings in, with or involving Iran and Iranian nationals. • Includes certain extraterritorial, “secondary sanctions” applicable to non-U.S. persons and directs the imposition of penalties, such as restrictions on accessing the U.S. financial system and ineligibility for contracting with U.S. government entities (among others), on foreign persons determined to have engaged in certain dealings in, with or involving Iran or Iranian nationals. • DO NOT ENGAGE IN ANY ACTIVITIES RELATED TO DEALINGS IN, WITH OR INVOLVING IRAN OR NATIONALS OF IRAN WITHOUT FIRST CONSULTING WITH YOUR BUSINESS UNIT’S COMPLIANCE OFFICER OR THE OFFICE OF THE CHIEF LEGAL OFFICER. OFAC Sanctions Program by Country Description of Sanctions Program Recommended Action Iraq-Related Sanctions • Prohibits dealings with individuals and entities determined to be associated with the former regime of Xxxxxx Xxxxxxx. • Before engaging in any dealings: (i) screen all counterparties, including agents, suppliers and customers, against the Consolidated Screening List; and (ii) conduct adequate background checks regarding such counterparties to ensure that they are not owned, controlled or acting on behalf of any sanctioned parties. • If any counterparty is designated on the Consolidated Screening List or suspected to be owned, controlled or acting on behalf of a sanctioned party, cease contact with such counterparty, do not proceed with the contemplated dealings and consult your business unit’s compliance officer or the office of the Chief Legal Officer immediately. Lebanon-Related Sanctions • Prohibits dealings with individuals and entities determined to be involved in actions designed to undermine Lebanon’s legitimate and democratically elected government. These sanctions are not territorial in nature (they do not apply to the whole country); instead, these are list-based restrictions that apply to designated parties/SDNs. • Before engaging in any dealings: (i) screen all counterparties, including agents, suppliers and customers, against the Consolidated Screening List; and (ii) conduct adequate background checks regarding such counterparties to ensure that they are not owned, controlled or acting on behalf of any sanctioned parties. • If any counterparty is designated on the Consolidated Screening List or suspected to be owned, controlled or acting on behalf of a sanctioned party, cease contact with such counterparty, do not proceed ...

Iran Sanctions has the meaning set forth in Section 4.1(h) hereof.

Examples of Iran Sanctions in a sentence

• Certifies that the offeror, or any person owned or controlled by the offeror, does not engage in any activities for which sanctions may be imposed under section 5 of the Iran Sanctions Act.

• Pursuant to section 4-252a of the Connecticut General Statutes, the Contractor certifies that it has not made a direct investment of twenty million dollars or more in the energy sector of Iran on or after October 1, 2013, as described in Section 202 of the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010, and has not increased or renewed such investment on or after said date.

• Proliferation-Related Provision of the Iran Sanctions ActAs noted above, Section 5(b)(1) of ISA subjects to ISA sanctions firms or persons determined to have sold to Iran (1) technology useful for weapons of mass destruction (WMD) or (2) “destabilizing numbers and types” of advanced conventional weapons.

• It was later retitled the Iran Sanctions Act after it terminated with respect to Libya in 2006.

• A divestment-promotion provision was contained in CISADA, providing a “safe harbor” for investment managers who sell shares of firms that invest in Iran’s energy sector at levels that would trigger U.S. sanctions under the Iran Sanctions Act.

• I certify that:  Respondent has made no direct investments of twenty million dollars or more in the energy sector of Iran on or after October 1, 2013, as described in Section 202 of the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010.

• For more information, see CRS Report RS20871, Iran Sanctions, by Kenneth Katzman.

• For more information on these Executive Orders and their provisions, see CRS Report RS20871, Iran Sanctions, by Kenneth Katzman; and CRS Report R43311, Iran: U.S. Economic Sanctions and the Authority to Lift Restrictions, by Dianne E.

• Effect on Energy Sector Long-Term DevelopmentThe Iran Sanctions Act (ISA) was enacted in large part to reduce Iran’s oil and gas production capacity over the longer term by denying Iran the outside technology and investment to maintain or increase production.

• Some information comes from various GAO reports, the latest of which was January 13, 2015 (GAO-15-258R).Note: CRS has no mandate, authority, or means to determine violations of the Iran Sanctions Act, and no way to confirm the status of any of the reported investments.

More Definitions of Iran Sanctions

Iran Sanctions. Impact in Furthering U.S. Objectives is Unclear and Should be Reviewed,” GAO-08-58, United States Government Accountability Office, December 2007. [13] Xxxxxxxx Xxxxx Xxxxx, “Iran Says Free Trade Pact with GCC to Benefit Region,” Gulf News, October 16, 2007, xxxx://xxxxxxx.xxxxxxxx.xxx/articles/07/10/17/10160752.html. [View Article] [14] Xxxx Xxxxxxxxx and Xxxxxx Xxxx, “Nukes ‘R’ Us,” New York Times, March 4, 2004, xxxx://xxxxx.xxxxxxx.xxx /gst/fullpage.html?res=9404EED8123FF937A35750C0A9629C8B63&scp=1&sq=nukes% 20r%20us&st=cse [View Article] [15] See source in [10]. [16] Ibid. [17] See source in [13]. [18] See source in [14]. [19] “Dubai-Iran Ties Thrive Against Odds,” Arab News, March 22, 2007, xxxx://xxx.xxxxxxxx.xxx/?page=4&section=0& article=94029&d=22&m=3&y=2007. [View Article] [20] See source in [11]. [21] See, for example, Xxxxx Xxxxxxxx and Xxxxx Xxxxxxxxxxx, “The A.Q. Khan Illicit Nuclear Trade Network and Implications for Nonproliferation Efforts,” Strategic Insights (2006), Vol. 5, Issue 6. [22] See source in [14].