Sanctions targeting the Iranian Central Bank National Defense Authorization Act for Fiscal Year 2012

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as part of ongoing dispute on iranian uranium enrichment, section 1245 of ndaa imposes unilateral sanctions against central bank of iran, blocking iranian oil exports countries business united states. new sanctions impose penalties against entities—including corporations , foreign central banks—which engage in transactions iranian central bank. sanctions on transactions unrelated petroleum take effect 60 days after bill signed law, while sanctions on transactions related petroleum take effect minimum of 6 months after bill s signing. bill grants u.s. president authority grant waivers in cases in petroleum purchasers unable, due supply or cost, reduce purchases of iranian oil, or in american national security threatened implementation of sanctions. following signing law of ndaa, iranian rial fell against u.s. dollar, reaching record low 2 days after bill s enactment, change attributed expected impact of new sanctions on iranian economy. officials within iranian government have threatened close strait of hormuz, important passageway middle east oil exports, should united states press forward new sanctions planned.








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