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The Iran and Libya Sanctions Act of 1996 (ILSA) was a 1996 act of the United States Congress that imposed economic sanctions on firms doing business with Iran and Libya. [1] On September 20, 2004, the President signed an Executive Order to terminate the national emergency with respect to Libya and to end IEEPA-based economic sanctions on Libya.
United States sanctions can be imposed under the National Emergencies Act (NEA) of 1976, the International Emergency Economic Powers Act (IEEPA) of 1977 and the Iran and Libya Sanctions Act of 1996 (ILSA, later renamed to Iran Sanctions Act (ISA)). Declarations under NEA and IEEPA must be renewed annually to remain in effect.
Amends the Iran Sanctions Act of 1996 to direct the President to impose two or more current sanctions under such Act if a person has, with actual knowledge, made an investment of $20 million or more (or any combination of investments of at least $5 million which in the aggregate equals or exceeds $20 million in any 12-month period) that ...
Congressional Republicans also are considering a series of bills on Iran. Washington's sanctions on Iran already ban nearly all U.S. trade with the country, block the government's assets in the U ...
The Biden administration quietly extended a sanctions waiver that will grant Iran access to roughly $10 billion from Iraq two days after President-elect Donald Trump’s Election Day victory.
NEW YORK (Reuters) -A U.S. appeals court on Tuesday said the federal government may prosecute Turkey's Halkbank on charges it helped Iran evade American sanctions, rejecting the state-owned lender ...
The result was the Iran and Libya Sanctions Act of 1996, which imposed sanctions on any foreign company investing more than $40 million to develop petroleum resources in Iran or Libya. The covert support for opposition groups, combined with the establishment of a northern safe haven, had significant consequences for regional stability.
The United States sanctions against Iran were imposed in November 1979 after radical students seized the American Embassy in Tehran and took hostages.The sanctions were imposed by Executive Order 12170, which included freezing about $8.1 billion in Iranian assets, including bank deposits, gold and other properties, and a trade embargo.