Today the President signed an Executive Order (E.O.), “Prohibiting Certain Transactions with and Suspending Entry into the United States of Foreign Sanctions Evaders with Respect to Iran and Syria
,” providing the U.S. Treasury Department with a new authority to tighten further the U.S. sanctions on Iran and Syria.
This E.O. targets foreign individuals and entities that have violated, attempted to violate, conspired to violat
e, or caused a violation of U.S. sanctions against Iran or Syria, or that have facilitated deceptive transactions for persons subject to U.S. sanctions concerning Syria or Iran. With this new authority, Treasury now has the capability to publicly identify foreign individuals and entities that have engaged in these evasive and deceptive activities, and generally bar access to the U.S. financial and commercial systems.