NY Bill Bans Contracts With Iran Energy-Investing Cos.

Law360, New York (January 9, 2012, 6:23 PM EST) -- The New York State Legislature on Monday passed a bill prohibiting companies that invest in the Iranian energy sector from doing business with state or local governments, in an effort to discourage Iran from pursuing its highly criticized nuclear activities.

After the Assembly passed the bill Monday morning, the Senate took minutes to pass the Iran Divestment Act of 2012 in an unopposed evening vote. The bill bars companies that provide goods, services or credit worth $20 million or more to Iran's energy industry from entering...
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