US Congress moves to attack foreign oil firms linked to Iran

Agence France-Presse | Jun. 26, 2007 (News Report)

US legislation designed to punish foreign energy companies that do business with Iran was overwhelmingly adopted by a powerful committee of Congress Tuesday.

The foreign affairs panel of the House of Representatives passed the proposed law by 37 votes to one, with Democrats and Republicans alike accusing Iran of using energy investment to fund its nuclear drive and "terrorism." Full Story »

Posted by Mike LaBonte

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Chris Finnie
2.4
 by Chris Finnie - Oct. 1, 2008

Ah! We can't let the Europeans and Japanese get all that business! I wonder if the administration has also pushed to close the loophole that allows US companies to establish offshore entities to avoid these pesky sanctions? No? I thought not. Wonder why the story didn't mention whether yesterday's rationing in Iran was connected to this? Seems a fairly substantial oversight.

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