Iran Sanctions Obama Signed Into Law Dec. 31 2011

Read them here.

WHAT SANCTIONS ARE PERMITTED UNDER THE LAW?

Three sets of punishments are possible:

- the president can prohibit a foreign bank from opening certain accounts in the United States, substantially curtailing its access to the U.S. financial system;

- the president can prevent foreign banks from maintaining such existing accounts or, in a lesser punishment, "impose strict conditions" on such accounts;

- the president can impose a series of other sanctions under the International Emergency Economic Powers Act, or IEEPA, which among other things gives him the authority to block any transaction involving assets under U.S. jurisdiction and to regulate or prohibit foreign exchange transactions, bank transfers and imports or exports of currencies or securities.