Iran Sanctions Violators To Face Strict Penalties

Law360, New York (August 17, 2010, 5:35 PM EDT) -- Financial institutions and individuals who violate the U.S. government's stepped-up sanctions against Iran will now face stiff penalties, the U.S. Department of the Treasury notes in newly issued regulations implementing the sanctions.

The law imposing the tough new sanctions, signed by the president July 1, requires the secretary of the Treasury to issue rules that impose strict conditions on those who maintain a U.S. account for a foreign financial institution that helps facilitate the efforts of Iran to acquire or develop weapons of mass destruction, the...
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