Iran Sanctions - Foreign Press Centers

• Lloyd’s (Britain). The major insurer had been the main company insuring Iranian
gas (and other) shipping, but reportedly has ended that business as of July 2010
According to the State Department, key shipping associations have created
clauses in their contracts that enable ship owners to refuse to deliver gasoline to
Iran;
• According to the State Department on May 24, 2011, Linde of Germany has said
it had stopped supplying gas liquefaction technology to Iran, contributing to
Iran’s decision to suspend its LNG program.
Firms Believed to Still Be Supplying Gasoline or Related Equipment
• The firms sanctioned by the Administration on May 24, 2011 (discussed above):
PCCI (Jersey/Iran); Royal Oyster Group (UAE); Speedy Ship (UAE/Iran);
Tanker Pacific (Singapore); Ofer Brothers Group (Israel); Associated
Shipbroking (Monaco); and Petroleos de Venezuela (Venezuela). These firms
have not announced cessation of deliveries to Iran following the sanctioning.
• Zhuhai Zhenrong, Unipec, and China Oil of China are said by GAO to still be
selling to Iran and have not denied continuing sales to the GAO; (Zhuhai
Zhenrong was sanctioned for this activity on January 12, 2012, as noted above,
but there are no indications it has stopped selling the activity.)
• Emirates National Oil Company of UAE was reported by GAO to still be selling
to Iran, and another UAE energy trader, FAL, was sanctioned on January 12,
2012, as discussed above.
• Hin Leong Trading of Singapore was reported by GAO to still be selling gasoline
to Iran and Kuo Oil of Singapore was sanctioned for selling gasoline to Iran on
January 12, 2012, as discussed above;
• Some refiners in Bahrain reportedly may still be selling gasoline to Iran.
Additional Sanctions: Possible Legislative,
Administrative, and Multilateral Action
Iran Sanctions
As discussed above, the Administration and its international partners have now begun to sanction
what Iran perceives is its vital interest—its oil exports. However, the Administration maintains
that the implementation of the oil-related sanctions be calibrated so as not to cause a sudden spike
in world oil prices or a backlash among key U.S. partners that would fracture international
solidarity against Iran. Some in the 112 th Congress believe that the cumulative effect of U.S. and
international sanctions—even after the EU embargo and other steps taken—remain insufficient to
accomplish key U.S. policy goals toward Iran, and are advocating further steps. Still, the
Administration prefers taking its own action—which it can calibrate to take into account the
views of U.S. partner countries—rather than be bound by specific congressional requirements.
Major Bills Pending (H.R. 1905, H.R. 2105, S. 1048, S. 2101)
Several major bills are pending. A House bill, H.R. 1905, the “Iran Threat Reduction Act of 2011”
was marked up by the House Foreign Affairs Committee on November 2, 2011, along with H.R.
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