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Results: 1-10 of 47

Aon Energy settles with OFAC after alleged sanctions violations

  • Locke Lord LLP
  • -
  • Iran, USA
  • -
  • February 15 2011

Aon International Energy, Inc. ("Aon Energy") has entered a $36,000 settlement with the Office of Foreign Assets Control ("OFAC") after allegations that the broker violated the Iranian Transactions Regulations

Insurance: Iran sanctions

  • CMS Cameron McKenna
  • -
  • European Union, Iran
  • -
  • October 23 2012

Last week saw the Council of the EU strengthen its position on Iran in the wake of similar US measures over the summer

IFCPA potentially expands US sanctions against Iran to non-US insurers and reinsurers

  • Locke Lord LLP
  • -
  • Iran, USA
  • -
  • May 29 2013

President Obama signed the National Defense Authorization Act for Fiscal Year 2013 into law in January 2013, which includes a section entitled the

Lloyd's Market drafts exclusion to ensure compliance with Iran sanctions

  • Locke Lord LLP
  • -
  • Iran, USA
  • -
  • August 23 2010

As previously reported in this blog, President Obama signed into law the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010 (the "Iran Sanctions Act") in July, following the less stringent sanctions passed earlier by the U.N

New OFAC sanctions in the insurance industry

  • Locke Lord LLP
  • -
  • Iran
  • -
  • April 27 2011

On April 26, 2011 the Office of Foreign Assets Control ("OFAC") reported that another insurance company has been sanctioned for violating the Iranian Transactions Regulations

Treasury updates sanctions

  • Dentons
  • -
  • Afghanistan, Iran, United Kingdom
  • -
  • January 4 2013

Treasury has updated the sanctions lists in respect of Iran and Afghanistan. An explanatory release sets out the increased restrictions on dealings with

New York Department of Financial Services looks at non-US reinsurers’ compliance with Iran sanctions law

  • Steptoe & Johnson LLP
  • -
  • Iran, USA
  • -
  • July 2 2013

For a state regulator, the New York Department of Financial Services ("DFS" or the "Department") has demonstrated an unusual interest in enforcing

New U.S. sanctions may target overseas insurers and reinsurers of Iranian oil industry

  • Wiley Rein LLP
  • -
  • Iran, USA
  • -
  • September 29 2009

The revelation of Iran's second underground uranium enrichment plant and that country's test firing of two long-range missiles have reinvigorated the Iran sanctions bills introduced in Congress in April

Federal legislative update Iran sanctions

  • Jorden Burt LLP
  • -
  • Iran, USA
  • -
  • December 22 2009

A recent bill passed by the U.S. House of Representatives that expands U.S. economic sanctions targeted at Iran’s refined petroleum resources could have significant implications for the insurance and reinsurance industry

Iran's shipping industry suffers as foreign insurers withhold coverage

  • Locke Lord LLP
  • -
  • Iran
  • -
  • July 28 2010

According to a recent article in the Washington Post, "Tehran's ability to ship vital goods has been significantly curtailed as some of the world's most powerful Western insurance companies cut off Iranian shippers out of fear that they could run afoul of U.S. laws, the insurers say."