New Legislation Marks Significant Expansion of U.S. Sanctions Against Iran and Syria

On August 10, 2012, President Obama signed the Iran Threat Reduction and Syria Human Rights Act of 2012 (“ITRSHRA”) into law. At 56 pages, ITRSHRA is sweeping legislation that expands the types of Iran-related activities subject to sanctions, supplements the list of available sanctions, and prescribes numerous measures designed to further isolate Iran from the international financial community. ITRSHRA also expands the sanctions authority relating to Syria, with a focus on human rights issues. This memorandum outlines the major provisions of ITRSHRA.