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U.S. Trade Sanctions Against Iran

U.S. Trade Sanctions Against Iran. ITRN 603 Julia Straker. Overview. In response to illicit nuclear activity, the U.S. and international community have imposed sanctions on Iran designed to bring their nuclear program into full compliance with their international obligations.

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U.S. Trade Sanctions Against Iran

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  1. U.S. Trade Sanctions Against Iran ITRN 603 Julia Straker

  2. Overview • In response to illicit nuclear activity, the U.S. and international community have imposed sanctions on Iran designed to bring their nuclear program into full compliance with their international obligations. • Sanctions target: • The transfer of weapons, components, technology, and dual-use items to Iran’s prohibited nuclear and missile programs • Select sectors of the Iranian economy relevant to its proliferation activities • And to encourage Iran to engage constructively with P5+1 countries to fulfill its nonproliferation obligations

  3. CISADA The Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA) Signed into law in June 2010, CISADA builds upon UNSCR 1929 by strengthening existing U.S. sanctions with respect to the Iranian energy industry, and adds the potential for the imposition of serious limits on foreign financial institutions’ access to the U.S. financial system if they engage in certain transactions involving Iran.

  4. CISADA: Section 202 (B) • Section 202 (B) of the CISADA legislation authorizes State or local governments to adopt and enforce measures that divest public pension funds from companies investing in Iran’s oil and natural gas sector • Only 24 states have adopted laws that require divestment of public funds from these companies. • Only six states have adopted laws that prohibit public contracts with foreign companies that have substantial stake in Iran’s energy sector. • Companies invested in Iran’s oil and natural gas sector accounts for 80 percent of the country’s hard currency which provides the cash necessary to finance the Iranian nuclear program.

  5. Helpful Links • U.S. Treasury: http://www.treasury.gov/resource-center/sanctions/Programs/Documents/iran.pdf • State Department: http://www.state.gov/e/eb/esc/iransanctions/docs/160710.htm • AIPAC Report: http://www.aipac.org/~/media/Publications-old/Policy%20and%20Politics/AIPAC%20Analyses/Issue%20Memos/2010/AIPAC_Memo_-_Divestment_-_An_Important_Tool_in_Preventing_Nuclear_Iran.pdf • WSJ Article: http://online.wsj.com/article/SB10001424127887324662404578332622153212746.html

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