Insurers Too Must Heed Iran Sanctions

Law360, New York (April 5, 2013, 11:27 AM EDT) -- On Jan. 2, 2013, President Obama signed into law the Iran Freedom and Counter-Proliferation Act of 2012 (IFCPA), as part of the National Defense Authorization Act of 2013. IFCPA is the most recent attempt by the Obama administration and Congress, through increasingly broad and creative measures, to induce Iran to abandon its efforts to develop nuclear weapons.

Among other things, these recent measures make clear that U.S. sanctions can  drastically impact non-U.S. entities. Further, at a recent symposium, the Treasury Department’s Office of Foreign Assets Control...
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