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Iran Sanctions Law Spurring Scrutiny of Energy Deals, Waiver or Not
By Brian Monroe
printAn American sanctions law passed in December is raising compliance concerns at banks involved in energy sector deals, despite U.S. waivers permitting related transactions, say attorneys and bank officials. Under the 2011 National Defense Authorization Act (NDAA), the White House must impose "strict conditions" on non-U.S. banks that knowingly facilitate large Iranian oil purchases through Iran's central bank. Earlier this year, the U.S. State Department disclosed a list of two dozen jurisdictions that could be subject to NDAA sanctions. But of those 24 countries, the White House has granted waivers to 20 ahead of a congressionally-mandated June deadline. Only Pakistan,...
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