U.S. imposes new sanctions against Iran

PanARMENIAN.Net - U.S. Secretary of State Hillary Clinton has decided to impose sanctions on seven foreign entities under the Iran Sanctions Act of 1996 as amended by the Comprehensive Iran Sanctions, Accountability, and Divestment Act, sometimes known as CISADA, of 2010, for their activities in support of Iran’s energy sector.

These companies are Petrochemical Commercial Company International (PCCI), Jersey and Iran; Royal Oyster Group, UAE; Speedy Ship, UAE, Iran; Tanker Pacific, Singapore; Ofer Brothers Group, Israel; Associated Shipbroking, Monaco; and Petroleos de Venezuela, sometimes known as PDVSA, in Venezuela.

“All of these companies have engaged in activities related to the supply of refined petroleum products to Iran, including the direct supply of gasoline and related products, as well as the provision of a product tanker to the Islamic Republic of Iran Shipping Lines (IRISL), an entity that has been designated by the United States and the European Union for its role in supporting Iran’s proliferation activities,” Deputy Secretary of State James Steinberg said during a special briefing.

“The intent of sanctions on Iran is to pressure it to comply with its international obligations. In its struggle to secure the resources it needs for its energy sector, Iran repeatedly has resorted to deceptive practices to evade sanctions. This Administration, which is the first to impose sanctions on firms under the Iran Sanctions Act, has been working aggressively to prevent Iran from developing its energy sector. Iran uses revenues from its energy sector to fund its nuclear program, as well as to mask procurement of dual-use items. Today’s actions add further pressure on Iran to comply with its international obligations,” he said.