⚖️Report on Iran's Material Utilization Under NDAA Regulations
Report to Congress Pursuant to the National Defense Authorization Act for Fiscal Year 2013 (FY13 NDAA)
Summary
The National Defense Authorization Act for Fiscal Year 2013 (also known as the Iran Freedom and Counter-Proliferation Act of 2012 (IFCA)), as delegated by Presidential Memorandum of June 3, 2013, requires the Secretary of State, in consultation with the Secretary of the Treasury, to submit a report to the appropriate congressional committees every 180 days that contains a determination with respect to: Whether Iran is using any of the materials described in IFCA as a medium for barter, swap, or any other exchange or transaction, or listing any of such materials as assets of the Government of Iran for purposes of the national balance sheet of Iran; which sectors of the economy of Iran are controlled directly or indirectly by Iran's Islamic Revolutionary Guard Corps (IRGC); and which of the materials described in subsection (d) are used in connection with the nuclear, military, or ballistic missile programs of Iran. Materials described are graphite, raw or semi-finished metals such as aluminum and steel, coal, and software for integrating industrial processes.
Agencies
- State Department
Business Impact
$$$ - High
The content outlines regulatory requirements and reporting obligations concerning Iran's material usages, affecting businesses in relevant sectors by enforcing compliance with international policies. Companies interacting with these materials or trading with Iran should be aware of potential sanctions and the implications on their operations.