LIBRARY OF CONGRESS WASHINGTON DC CONGRESSIONAL RESEARCH SERVICE
Pagination or Media Count:
There appears to be a growing international consensus to adopt progressively strict economic sanctions against Iran to try to compel it to compromise on its further nuclear development. Measures adopted in 2010 by the United Nations Security Council and the European Union and other countries complement the numerous U.S. laws and regulations that have long sought to try to slow Irans weapons of mass destruction WMD programs and curb its support for militant groups. The U.S. view-increasingly shared by major allies-is that sanctions should target Irans energy sector that provides about 80 of government revenues. U.S. efforts to curb international energy investment in Irans energy sector began in 1996 with the Iran Sanctions Act ISA, a U.S. law that authorized the imposition of U.S. penalties against foreign companies that invest in Irans energy sector. ISA represented a U.S. effort, which is now broadening, to persuade foreign firms to choose between the Iranian market and the much larger U.S. market. ISA has been expanded significantly in 2010 to sanction firms that help Iran meet its needs for importation and additional production of gasoline. In the 111th Congress, H.R. 2194 signed into law on July 1-P.L. 111-195 adds as ISA violations selling refined gasoline to Iran providing shipping insurance or other services to deliver gasoline to Iran or supplying equipment to or performing the construction of oil refineries in Iran. The new law also adds a broad range of other measures further restricting the already limited amount of U.S. trade with Iran and restricting some trade with countries that allow WMD-useful technology to reach Iran.
- Economics and Cost Analysis
- Government and Political Science
- Sociology and Law