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-shared by major allies-is that sanctions should target the development of Iran's energy sector that provides about 80% of government revenues, and try to isolate Iran, particularly its Revolutionary Guard Corps, 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 that conduct certain business with 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. and other developed markets. In the 111th Congress, the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA, P.L. 111-195) expanded ISA significantly to try to restrict Iran's ability to make or import gasoline, for which Iran depends heavily on imports. CISADA 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
- Dec 13, 2010
- Accession Number
- ADA535959
Entities
People
- Kenneth Katzman
Organizations
- Library of Congress