Iranian Sanctions Compliance Strategies

Meeting Strict and Rapidly Changing U.S. and EU Sanctions Requirements

Recording of a 90-minute CLE webinar with Q&A

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Conducted on Thursday, December 20, 2012

Recorded event now available

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Course Materials

This CLE course will provide guidance for counsel to U.S. companies doing business in or with companies in Iran. The panel will discuss how to meet the constantly evolving U.S. and EU sanctions requirements and ensure effective compliance with the restrictions.

Description

On Oct. 9, 2012, two months after signing the Iran Threat Reduction and Syria Human Rights Act, which effectively ends trade with Iran through foreign subsidiaries among other things, President Obama issued an Executive Order implementing the Act.

Additionally, on Oct. 15, 2012, the Council of the European Union expanded its sanctions against Iran, adding 34 Iranian entities to its assets freeze list and adopting numerous restrictions, including a ban on imports of natural gas from Iran and a ban on transactions between EU and Iranian banks.

Both U.S. and EU authorities closely monitor business activities with Iran and have ramped up enforcement efforts. Failure to comply with these regulations can be costly. Counsel must stay abreast of the evolving sanctions and adjust compliance programs to ensure sanctions requirements are met.

Listen as our authoritative panel discusses the new and current U.S. and EU sanctions against doing business in and with companies in Iran, how the sanctions programs are evolving, and the impact of recent changes. The panel will offer strategies for compliance with the current sanctions.

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Outline

  1. U.S. sanctions on Iran
    1. New sanctions
    2. Sanctions in place
    3. How sanctions are evolving
    4. Impact of recent executive orders/licenses
  2. EU sanctions on Iran
    1. New sanctions
    2. Sanctions in place
    3. How sanctions are evolving
    4. Impact of recent executive orders/licenses
  3. Strategies for complying with sanctions
    1. Improving screening processes
    2. Receiving payments
    3. Blocking accounts
    4. Meeting requirements for exports and re-exports

Benefits

The panel will review these and other key questions:

  • What new sanctions have been introduced with respect to Iran by the U.S. and the EU?
  • What business activities, if any, are permissible in Iran?
  • What steps can companies take to promote compliance as sanctions on Iran evolve?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Thaddeus R. McBride
Thaddeus R. McBride
Partner
Sheppard Mullin Richter & Hampton

Mr. McBride represents companies and individuals in international trade regulatory, compliance, investigative, and...  |  Read More

Mario Mancuso
Mario Mancuso
Partner
Fried Frank Harris Shriver & Jacobson

A former senior member of the President's national security and economic leadership teams, he focuses on mergers...  |  Read More

Philip Triggs
Philip Triggs
AML and Sanctions Policy Manager, UK Retail and Business Banking Compliance
Barclays

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