IFCA / NDAA 2013: A potential expansion of US sanctions against Iran as of July 1, 2013

Members should be aware that US sanctions regime against Iran continues to develop, with additional measures being introduced  from 1 July 2013 which may affect both US and non-US entities engaged in marine transportation and marine insurance.

The additional measures  are contained in the "Iran Freedom and Counter-Proliferation Act of 2012" ("IFCA"), which forms a part of the National Defense Authorization Act for Fiscal Year 2013 ("NDAA 2013").

The International Group has also prepared a briefing note on the new measures which is attached above.

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