President's Executive Order Imposes Additional Sanctions Related to Transactions with Iran

On November 23, 2011, President Obama signed Executive Order (EO) 13590 that authorizes the imposition of certain sanctions with respect to the provision of goods, services, technology, or support for Iran's energy and petrochemical sectors. 

The EO targets transactions that could "directly and significantly contribute to the maintenance or enhancement of Iran's ability to develop petroleum resources located in Iran," and that could "directly and significantly contribute to the maintenance or expansion of Iran's domestic production of petrochemical products." 

The sanctions are not limited to U.S. persons and apply to "any person."