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New Iran Sanctions Imposed By the National Defense Authorization Act by David W. Addis
Covington & Burling LLP - Washington Office
Peter L. Flanagan
Covington & Burling LLP - Washington Office
Corinne A. Goldstein
Covington & Burling LLP - Washington Office
Peter Lichtenbaum
Covington & Burling LLP - Washington Office
Sarah Liebschutz
Covington & Burling LLP - Washington Office
Meena Sharma
Covington & Burling LLP - Washington Office
Kimberly A. Strosnider
Covington & Burling LLP - Washington Office
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January 9, 2012
Previously published on January 4, 2012
On December 31, 2011, President Obama signed the National Defense Authorization Act for Fiscal Year 2012 (H.R. 1540) (“NDAA”), an appropriations bill allocating defense funding for Fiscal Year 2012. Among a wide variety of provisions, the NDAA contains one section — Section 1245 (entitled “Imposition of Sanctions with Respect to the Financial Sector of Iran”) — which directs the President to impose sanctions aimed at limiting Iran’s ability to finance its nuclear ambitions.
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