Iran Sanctions
Abstract
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 since mid-2010 by the United Nations Security Council, the European Union, and several other countries complement the numerous U.S. laws and regulations that have long sought to try to slow Iran's 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 Iran's energy sector, which provides about 80% of government revenues, and try to isolate Iran from the international financial system. U.S. efforts to curb international energy investment in Iran's energy sector began in 1996 with the Iran Sanctions Act (ISA), a U.S. law that mandates U.S. penalties against foreign companies determined to have invested in Iran's 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. In the 111th Congress, the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (H.R. 2194, P.L. 111-195) adds as ISA violations selling refined gasoline to Iran; providing shipping insurance or other services to help Iran import gasoline; or supplying equipment to or performing the construction of oil refineries in Iran. This law also adds a broad range of other measures further restricting the already limited amount of U.S. trade with Iran and restricting some high technology trade with countries that allow WMD-useful technology to reach Iran.
Document Details
- Document Type
- Technical Report
- Publication Date
- Oct 07, 2010
- Accession Number
- ADA535415
Entities
People
- Kenneth Katzman
Organizations
- Library of Congress