Iran Sanctions
Abstract
Iran is subject to a wide range of U.S. sanctions, restricting trade with, investment, and U.S. foreign aid to Iran, and requiring the United States to vote against international lending to Iran. Several laws and Executive Orders extend sanctions to foreign companies that do business with Iran, as part of an effort to persuade foreign firms to choose between the Iranian market and the much larger U.S. market. A formal U.S. effort to curb international energy investment in Iran began in 1996 with the Iran Sanctions Act (ISA). No firms have been sanctioned under it and the precise effects of that law on energy investment in Iran- as separate from other factors affecting international firms' decisions on whether to invest in Iran- has been unclear. While international pressure on Iran to curb its nuclear program has increased the hesitation of many major foreign firms to invest in Iran's energy sector, hindering Iran's efforts to expand oil production beyond 4.1 million barrels per day, some firms continue to see opportunity in Iran. This particularly appears to be the case for companies in Asia that appear eager to fill the void left by major European and American firms and to line up steady supplies of Iranian oil and gas.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jul 09, 2009
- Accession Number
- ADA503161
Entities
People
- Kenneth Katzman
Organizations
- Library of Congress