New U.S. financial sanctions against Iran31.05.18, Industry Policy
The Iran Threat Reduction and Syria Human Rights Act of 2012 was signed into law by President Obama on 10 August 2012.
The Act specifically targets insurance. The President shall amongst others impose five or more sanctions on persons providing insurance to a vessel that was used to transport crude oil from Iran to another country, unless the President determines that the person has exercised due diligence. The same applies to insurance for the National Iranian Oil Company, the National Iranian Tanker Company, or a "successor entity to either such company".
The financial sanctions are expanded with a ban on investment in equity or debt of a sanctioned person, and exclusion of alien corporate officers from the United States.