The new Iran Foreign Direct Product rules go into effect next month, and the unusual way the rule was imposed may have left some practitioners unprepared.
Enacted by Congress with no input from the Deparetment of Commerce, the provisions of (HR. 6603) introduced by Rep. Nathaniel Moran (R-TX) were included in the massive emergency supplemental appropriation [HR 815] signed into law April 24th. "This is the first time in the history of Congress that it passed a bill to codify a foreign direct product rule," Mr. Moran's office stated.
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