Iran News ...


10/02/09

US lawmakers OK fuel sanctions on Iran

Press TV - US lawmakers have approved legislation to punish companies exporting gasoline to Iran, in a move to mount pressure on the Islamic Republic over its nuclear program.

The Thursday action by the US House of Representatives would even bar foreign companies exporting gasoline to Iran from delivering crude oil to the US Strategic Petroleum Reserve, Reuters reported.

The sanctions were included in an energy and water programs spending bill.

Senators Jon Kyl and Susan Collins had sponsored the provisions included in the final version of the compromise spending bill, which is expected to be signed into law shortly.

"This provision sends a message to companies that put profits over security -- you can do business in our USD 13 trillion economy or Iran's USD 250 billion economy," Kyl and Collins said.

The sanctions would have no immediate effect on companies selling fuel to Iran, as the US petroleum reserve is just 2 million barrels short of its 727 million barrel capacity, which will be reached by January.

The latest development in the fuel feud comes while Iran has declared that fuel sanctions will not have any effect on the country, since Tehran will manage to meet its need for gasoline through other means.

... Payvand News - 10/02/09 ... --



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